NYSE:OXYOil and Gas
Occidental Petroleum Debt Moves And Dividend Shift Reframe Investor Tradeoffs
Occidental Petroleum (NYSE:OXY) has launched a series of cash tender offers for certain senior notes and debentures.
The company is using proceeds from the completed US$9.7b OxyChem divestiture to reduce debt.
Alongside the liability actions, Occidental has announced an 8% quarterly dividend increase.
Occidental Petroleum, a large upstream and integrated energy company, is in a new phase of balance sheet repair following its Anadarko acquisition period. The combination of debt tenders and a...