Anadarko Doubles Quarterly Dividend
HOUSTON, TX -- (Marketwired) -- 08/06/13 -- The Board of Directors
of Anadarko Petroleum Corporation (NYSE: APC) today declared a
quarterly cash dividend on the company's common stock of 18 cents per
share, a 100-percent increase from 9 cents per share in the previous
quarter. The dividend is payable Sept. 25, 2013 to stockholders of
record at the close of business on Sept. 11, 2013.
"This substantial increase in our cash dividend reflects the
confidence we have in our portfolio and its capability to deliver
capital-efficient growth within cash flow," Anadarko Executive Vice
President and CFO, Bob Gwin said. "We continue to focus on generating
strong returns for, and returning cash to, our shareholders, and this
is a very positive step in that direction."
The amount of future dividends for Anadarko common stock will depend
upon earnings, financial condition, capital requirements and other
factors. The Board of Directors will determine dividends on a
Anadarko Petroleum Corporation's mission is to deliver a competitive
and sustainable rate of return to shareholders by exploring for,
acquiring and developing oil and natural gas resources vital to the
world's health and welfare. As of year-end 2012, the company had
approximately 2.56 billion barrels-equivalent of proved reserves,
making it one of the world's largest independent exploration and
production companies. For more information about Anadarko and APC
Flash Feed updates, please visit www.anadarko.com.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Anadarko believes that its
expectations are based on reasonable assumptions. No assurance,
however, can be given that such expectations will prove to have been
correct. A number of factors could cause actual results to differ
materially from the projections, anticipated results or other
expectations expressed in this news release, including Anadarko's
ability to meet financial and operating guidance, achieve its
production targets, successfully manage its capital expenditures, and
maintain or increase future dividends for Anadarko common stock. See
"Risk Factors" in the company's 2012 Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and other public filings and press
releases. Anadarko undertakes no obligation to publicly update or
revise any forward-looking statements.
Press spacebar to pause and continue. Press esc to stop.