Oxy Ups Dividend After Record Quarter

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After posting record first quarter profit, Occidental Petroleum Corp. said it raised its annual dividend by 28 percent to $1.28 a share.


The 32-cents per share quarterly dividend will be payable on July 15 to stockholders of record as of June 10, Occidental said in a statement Thursday. The previous annual dividend was $1 a share.


Last week, the Westwood-based oil company posted first-quarter earnings of $1.85 billion on higher crude prices and greater production. Sales increased 50 percent to $6.02 billion.


Shares in Occidental closed down 2.6 percent to $81.02.

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