Occidental Pays Berkshire Dividend in Shares Rather Than Cash [TheStreet.com]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: TheStreet.com
Occidental Petroleum(OXYGet ReportBRK.BThe company needs to conserve cash because the coronavirus pandemic has sapped demand for oil and until last weekend Saudi Arabia and Russia were engaged in a price war.Occidental already slashed its dividend to common shareholders by 86%.Berkshire Hathaway helped finance Occidental’s $38 billion purchase of Anadarko Petroleum last year, giving it a $10 billion position in preferred stock with an 8% dividend.But the $200 million quarterly payment isn’t something Occidental feels it can cough up at this point.Adding insult to injury, the shares issued to Berkshire Hathaway were worth about $257 million as of Tuesday’s close. The $57 million premium over what the cash payout would have been stems from the 10% discount Berkshire gets on dividends paid in shares and the formula for calculating dividends if paid in stock.Berkshire Hathaway owned 2% of Occidental as of Dec. 31.Analysts and investors had doubts about Occidental’s acquisition of Anadarko
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News
- Occidental Petroleum (OXY) Posts Strong Q3 Earnings, UBS Maintains Neutral Rating [Yahoo! Finance]Yahoo! Finance
- Occidental Petroleum (OXY): Assessing Valuation After Record Production, Lower Costs, and Dividend Hike Hopes [Yahoo! Finance]Yahoo! Finance
- Is Occidental Petroleum an Opportunity After Year-to-Date Slide and Energy Transition Headlines? [Yahoo! Finance]Yahoo! Finance
- Investors in Occidental Petroleum (NYSE:OXY) have seen impressive returns of 189% over the past five years [Yahoo! Finance]Yahoo! Finance
- Occidental Petroleum (NYSE:OXY) had its "outperform" rating reaffirmed by analysts at Raymond James Financial, Inc..MarketBeat
OXY
Earnings
- 11/10/25 - Beat
OXY
Sec Filings
- 11/10/25 - Form 10-Q
- 11/10/25 - Form 8-K
- 10/10/25 - Form 8-K
- OXY's page on the SEC website