| Anadarko hints may cut dividend, says yield too high | |
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HOUSTON, Feb 2 (Reuters) - Oil producer Anadarko Petroleum Corp said on Tuesday it may cut its dividend because the oil price plunge has pushed its yield too high. The company pays a 27 cent quarterly dividend, though its stock has plunged 54 percent in the past year, raised its yield close to 3 percent. That's higher than most members of the S&P 500 index. Executives said they would discuss the dividend when Anadarko's board meets next week, suggesting a possible cut. "If we look at the yield associated with our common stock at 3 percent, that's historically high for us," CEO Al Walker said on a conference call with investors. "So we look forward to discussing that with our board." The dividend costs Anadarko about $550 million annually. "Obviously there are other things we could do with that cash in the current environment," Bob Gwin, Anadarko's chief financial officer, told investors, adding that he does not expect the entire dividend to be eliminated. (Reporting by Ernest Scheyder)
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Anadarko
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CODE : APC |
ISIN : US0325111070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anadarko is a exploration company based in Canada. Anadarko is listed in Germany and in United States of America. Its market capitalisation is US$ 38.6 billions as of today (€ 34.5 billions). Its stock quote reached its lowest recent point on May 12, 1995 at US$ 10.00, and its highest recent level on May 23, 2014 at US$ 99.93. Anadarko has 531 000 000 shares outstanding. |