Hess Increases Quarterly Dividend by 150 Percent
NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Hess Corporation (NYS: HES) today authorized the previously announced 150 percent increase to its quarterly dividend, declaring a dividend of 25 cents per share payable on the Common Stock of the Corporation on September 30, 2013 to holders of record at the close of business on September 16, 2013.
John B. Hess, Chief Executive Officer, said, "Our transformation into a pure play exploration and production company allows us to increase cash returns to shareholders. In addition to being able to repurchase shares under our existing $4 billion authorization, we are also substantially increasing our quarterly dividend. We remain committed to ensuring that our reshaped portfolio of focused, lower risk upstream assets is optimally positioned to drive production growth, enhance profitability, and generate superior returns."
Hess Corporation is a leading global independent energy company primarily engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com.
Jay Wilson, 212-536-8940
Jon Pepper, 212-536-8550
KEYWORDS: United States North America New York
The article Hess Increases Quarterly Dividend by 150 Percent originally appeared on Fool.com.
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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.