Overview
- Occidental raised its quarterly dividend to $0.26 per share, payable April 15 to shareholders of record on March 10.
- Shares climbed 9.38% to close at $51.53, with the rally attributed to the dividend increase.
- The company narrowed its fourth-quarter net loss to $68 million from $297 million a year earlier.
- Fourth-quarter oil and gas sales fell 44% to $655 million, and full-year net income declined 30.6% to $1.65 billion.
- Occidental launched a $700 million tender offer for five senior notes due 2029–2036, with about $58 million targeted for the 2036 zero-coupon tranche.