LOS ANGELES, July 17, 2008 (PRIME NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.32 per share on common stock payable October 15, 2008, to stockholders of record on September 10, 2008.
Oxy's board voted to raise the quarterly dividend in July of this year to the annual rate of $1.28 per share from the previous annual rate of $1.00 per share. It was Oxy's seventh dividend increase since 2002, bringing the company's dividend growth rate to 16.2 percent over the period. The company has paid quarterly dividends continuously since 1975.
ABOUT OXY
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy's wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company's worldwide operations.