Occidental Increases Dividend

Rhea-AI Summary

Occidental (NYSE: OXY) announced a quarterly dividend increase to $0.13 per share, payable on April 15, 2022, to stockholders of record by March 10, 2022. This new annual rate of $0.52 marks a significant rise from the previous $0.04 per share. The CEO, Vicki Hollub, emphasized the company’s commitment to returning capital to shareholders as it works to reduce net debt and strengthen its balance sheet.

Positive

• Dividend increased to $0.13 per share, a significant rise from the previous $0.04.
• Annual dividend now totals $0.52 per share, enhancing shareholder returns.

Negative

• None.

HOUSTON, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) announced today that its Board of Directors has declared a regular quarterly dividend of $0.13 per share on common stock, payable on April 15, 2022, to stockholders of record as of the close of business on March 10, 2022. On an annual basis, the dividend is $0.52 per share at the new rate, compared to the previous annual rate of $0.04 per share.

“As we continue to reduce our net debt and strengthen our balance sheet, our focus has expanded to returning additional capital to shareholders, beginning with the increase in our quarterly common dividend to 13 cents per share,” said President and Chief Executive Officer Vicki Hollub.

About Occidental

Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Our Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. We are committed to using our global leadership in carbon management to advance a lower-carbon world. Visit oxy.com for more information.

Contacts

Media	Investors
Eric Moses 713-497-2017 eric_ moses@oxy.com	Jeff Alvarez 713-215-7864 jeff_alvarez@oxy.com

FAQ

What is the new dividend amount for OXY announced by Occidental?

Occidental announced a new quarterly dividend of $0.13 per share.

When will Occidental's dividend be paid?

The dividend will be paid on April 15, 2022.

What was the previous annual dividend for Occidental (OXY)?

The previous annual dividend was $0.04 per share.

How does the new dividend reflect on Occidental's financial strategy?

The increase demonstrates Occidental's commitment to returning capital to shareholders while reducing net debt.

What is the record date for the new OXY dividend?

The record date for the new dividend is March 10, 2022.