Occidental Petroleum (OXY) Declares $.75 Quarterly Dividend; Declares Special Dividend Related to CRC Spin

Occidental Petroleum (NYSE: OXY) declared a quarterly dividend of $.75 per share, or $3 annualized.

The dividend will be payable on April 15, 2016, to stockholders of record on March 10, 2016, with an ex-dividend date of March 8, 2016.

The annual yield on the dividend is 4.3 percent.

The Board also declared a special stock dividend of all 71,500,000 shares of common stock of CRC owned by Occidental as the final step of the spin-off of CRC. The special stock dividend will be made on March 24, 2016, to stockholders of record as of February 29, 2016. Occidental estimates that stockholders will receive 0.094 shares of CRC common stock for each share of Occidental common stock owned, though the final ratio will not be known until February 29, 2016. Fractional shares of CRC common stock will not be issued, and will instead be aggregated and sold in the open market, with the net cash proceeds to be distributed ratably to stockholders who would have otherwise received fractional shares.

For a dividend history and other dividend-related data on Occidental Petroleum (OXY) click here.

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