Anadarko cuts dividend 81%

The board of directors of Anadarko Petroleum Corp. (NYSE: APC) declared, on Feb. 9,  a quarterly cash dividend on the company's common stock of 5 cents per share, payable March 23, to stockholders of record at the close of business on March 9. The quarterly dividend represents a 22-cent reduction from the prior level of 27 cents per share – or an 81% reduction.

"We believe this adjustment to our dividend is the appropriate action to take in the current environment," said Al Walker, Anadarko chairman, president, and CEO. "On an annualized basis, this action provides approximately $450 million of additional cash available to enhance our operations and financial flexibility. Our board will continue to evaluate the appropriate dividend on a quarterly basis."

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...