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Thursday, February 13, 2014

For Investors Only: OXY Working To Make Investors Happy

Link here.
Occidental Petroleum Corp said on Thursday its board voted to increase its share repurchase authorization by 30 million shares to be funded in part by the $1.4 billon sale of natural gas assets in the central United States.

Occidental, which is restructuring and under pressure to return more cash to shareholders, also raised its annual dividend by 12.5 percent to $2.88 per share.
"The dividend increase reflects our commitment to growing Occidental's dividend annually, and we will continue to make share repurchases as opportunities arise," Chief Executive Officer Stephen I. Chazen said in a statement.

2 comments:

  1. The following link isn't germane to this topic, but I wasn't sure how to send it to you:
    http://www.cnbc.com/id/101408226

    California is trying to now stop fracking due to the Drought! Thought you would find it interesting.

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    Replies
    1. Yes, I think I've posted this story -- it is going to be very, very difficult to allow fracking with water during the California drought, despite the fact that golf courses in California use much more water than fracking ever would.

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