Occidental Petroleum Announces Dividend
Occidental Petroleum Corporation (NYSE:OXY) announced today that its Board of Directors has authorized an
increase of the company’s dividend to an annual rate of $3.04 per share, from the previous annual rate of $3.00 per share.
President and Chief Executive Officer Vicki A. Hollub said, “Occidental has now increased its dividend every year for 14
consecutive years, and a total of 15 times during that period. The total increase in the annual dividend rate from 2002 exceeds 500
percent. The dividend increase reflects our commitment to growing Occidental’s dividend annually for our shareholders, and our
confidence in the company’s financial strength and future performance.”
Occidental has paid quarterly dividends continuously since 1975. The $.76 per share quarterly dividend will be payable on
October 14, 2016, to stockholders of record as of September 9, 2016.
About Occidental Petroleum
Occidental Petroleum Corporation is an international oil and gas exploration and production company with
operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil
and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment gathers, processes,
transports, stores, purchases and markets hydrocarbons and other commodities. The company’s wholly owned subsidiary OxyChem
manufactures and markets basic chemicals and vinyls.
Forward-Looking Statements
Portions of this press release contain forward-looking statements and involve risks and uncertainties that could materially
affect expected results of operations, liquidity, cash flows and business prospects. Actual results may differ from anticipated
results, sometimes materially, and reported results should not be considered an indication of future performance. Factors that
could cause results to differ include, but are not limited to: global commodity pricing fluctuations; supply and demand
considerations for Occidental’s products; higher-than-expected costs; the regulatory approval environment; reorganization or
restructuring of Occidental’s operations; not successfully completing, or any material delay of, field developments, expansion
projects, capital expenditures, efficiency projects, acquisitions or dispositions; uncertainties about the estimated quantities of
oil and natural gas reserves; lower-than-expected production from development projects or acquisitions; exploration risks; general
economic slowdowns domestically or internationally; political conditions and events; liability under environmental regulations
including remedial actions; litigation; disruption or interruption of production or manufacturing or facility damage due to
accidents, chemical releases, labor unrest, weather, natural disasters, cyber attacks or insurgent activity; failure of risk
management; changes in law or regulations; or changes in tax rates. Words such as “estimate,” “project,” “predict,” “will,”
“would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,”
“objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate
forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the
date of this release. Unless legally required, Occidental does not undertake any obligation to update any forward-looking
statements, as a result of new information, future events or otherwise. Material risks that may affect Occidental’s results of
operations and financial position appear in Part I, Item 1A “Risk Factors” of the 2015 Form 10-K. Occidental posts or provides
links to important information on its website at www.oxy.com.
Occidental Petroleum Corporation
Media:
Melissa E. Schoeb
713-366-5615
melissa_schoeb@oxy.com
or
Investors:
Christopher M. Degner
212-603-8111
christopher_degner@oxy.com
On the web:
www.oxy.com
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