ConocoPhillips Cuts Quarterly Dividend and Capital Spending

ConocoPhillips cut its dividend and capital spending after reporting a widened fourth-quarter loss.

The quarterly dividend was reduced to 25 cents a share from 74 cents previously. It lowered capital expenditures guidance to $6.4 billion from $7.7 billion and operating costs guidance to $7 billion from $7.7 billion.

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