Anadarko Increases Common Dividend.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Oct. 31, 2002 The board of directors of Anadarko Petroleum Corporation Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with 2.37 billion barrels of oil equivalent (BOE) of proved reserves and a production of 190 million BOE in 2004. Ranked No. (NYSE NYSE See: New York Stock Exchange :APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ) today increased the quarterly dividend on the company's common stock and declared a regular dividend on the company's Series B preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . An increase of 33.3 percent, from 7.5 cents to 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , was declared on the company's outstanding common stock, payable on Dec. 24, 2002, to stockholders of record at the close of business on Dec. 11, 2002. "This increase is part of our ongoing commitment to build value for shareholders, and it demonstrates Anadarko's ability to achieve and sustain economic growth," said John Seitz, Anadarko president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . A dividend of $13.65 per share (equivalent to $1.365 per Depositary Share) was declared on the company's 5.46% Series B Cumulative Preferred Stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , payable on Dec. 31, 2002, to stockholders of record at the close of business on Dec. 13, 2002. The amount of future dividends for Anadarko common stock will depend on earnings, financial condition, capital requirements and other factors. The board of directors will determine dividends on a quarterly basis.
ANADARKO PETROLEUM CORPORATION (NYSE:APC)
5.46% Series B
Common Stock Cumulative Preferred Stock
Record Date: Dec. 11, 2002 Dec. 13, 2002
Payment Date: Dec. 24, 2002 Dec. 31, 2002
Amount: 10 cents per share $13.65 per share
(equivalent to $1.365 per
Depositary Share)
Anadarko Petroleum Corporation is one of the world's largest independent oil and gas exploration and production companies. Houston-based Anadarko is active in the U.S., Canada, Algeria and Qatar and is executing strategic exploration programs in several other countries. More information is available at www.anadarko.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion