ConocoPhillips Boosts Dividend, Adds to Share Buyback
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ConocoPhillips, the third-largest U.S. oil company, boosted its quarterly dividend and capital-spending plan while adding as much as $10 billion in stock buybacks.
Shareholders of record as of Feb. 22 will receive a quarterly dividend of 66 cents per share, a 20 percent increase, payable March 1, the Houston-based company said in a statement today. ConocoPhillips plans to spend $13.5 billion this year to drill wells, build oil platforms and repair refineries, a 21 percent increase over its 2010 capital-spending plan.