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OCCIDENTAL TO REDEEM $12.00 CUMULATIVE PREFERRED STOCK

       OCCIDENTAL TO REDEEM $12.00 CUMULATIVE PREFERRED STOCK
    LOS ANGELES, July 16 /PRNewswire/ -- Occidental Petroleum Corporation (NYSE: OXY) announced today that it will redeem on Sept. 15, 1992, all of the outstanding shares of its $12.00 Cumulative Preferred Stock.  The redemption price will be $104 per share, for an aggregate cost of $41.6 million.  Record holders at the close of business on Sept. 10, 1992, will also receive their prorated portion of the regular quarterly dividend of $3.00 to such redemption date (in the amount of $2.467 per share) which was declared on July 16, 1992, and will be paid on Sept. 15, 1992.
    Payment of the redemption price for the $12.00 Preferred Stock, together with dividends accrued thereon to such redemption date will be made on or after Sept. 15, 1992, upon presentation and surrender to Occidental of certificates representing shares of $12.00 Preferred Stock.
    -0-              7/16/92
    /CONTACT:  Howard Collins (media), 310-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental Petroleum/
    (OXY) CO:  Occidental Petroleum Corporation ST:  California IN:  OIL SU: CH -- LA013 -- 9754 07/16/92 12:36 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 16, 1992
Words:190
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