Occidental Declares Fresh Dividend

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The long dividend pipeline of Occidental Petroleum continues to flow. The company has declared its latest distribution, which is to be $0.64 per share paid on October 15 to shareholders of record as of September 10. That amount matches both of the firm's previous two disbursements, the most recent of which is set to be paid on July 15. Prior to that, Occidental was less generous by $.10, handing out $0.54 per share.

In the press release announcing the news, the company pointed out that it has handed out distributions continuously since 1975, and has boosted its payout every year from 2002.

The just-declared dividend annualizes to $2.56 per share. That yields 2.8% at Occidental's most recent closing stock price of $90.42.

The article Occidental Declares Fresh Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Occidental Petroleum. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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