Anadarko Increases Quarterly Common Dividends by 40 Percent.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--Oct. 31, 2003 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. ) has announced a 40-percent increase in its declared quarterly dividends on the company's common stock and reaffirmed the dividend on its 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. . A dividend of 14 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, 2003, to stockholders of record at the close of business on Dec. 10, 2003. "With a good quarter behind us and a good outlook for future cash flows, today's dividend increase is further evidence of our commitment to deliver better returns to stockholders," said Robert J. Allison, Jr, Anadarko Chairman, 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, 2003, to stockholders of record at the close of business on Dec. 15, 2003. 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. 10, 2003 Dec. 15, 2003
Payment Date: Dec. 24, 2003 Dec. 31, 2003
Amount: 14 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, Qatar and Venezuela and is executing strategic exploration programs in several other countries. More information is available at www.anadarko.com. |
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