The Board of Directors of Hess Corporation (NYSE: HES) today authorized
the previously announced 150 percent increase to its quarterly dividend,
declaring a dividend of 25 cents per share payable on the Common Stock
of the Corporation on September 30, 2013 to holders of record at the
close of business on September 16, 2013.
John B. Hess, Chief Executive Officer, said, “Our transformation into a
pure play exploration and production company allows us to increase cash
returns to shareholders. In addition to being able to repurchase shares
under our existing $4 billion authorization, we are also substantially
increasing our quarterly dividend. We remain committed to ensuring that
our reshaped portfolio of focused, lower risk upstream assets is
optimally positioned to drive production growth, enhance profitability,
and generate superior returns.”
Hess Corporation is a leading global independent energy company
primarily engaged in the exploration and production of crude oil and
natural gas. More information on Hess Corporation is available at http://www.hess.com.
Copyright Business Wire 2013