Oxy reduces its dividend to $0.01 per share


By Joe Carroll on 5/29/2020

HOUSTON (Bloomberg) –Occidental Petroleum cut its quarterly dividend by 91% to cope with the pandemic-driven collapse in energy demand that has strained the oil explorer’s ability to shoulder its debt.

Occidental shareholders will receive a penny per share on July 15, the Houston-based company said in a statement Friday. The payout compares to the 11-cent dividend announced in March.





www.worldoil.com

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments