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ConocoPhillips declares $0.73 dividend

  • ConocoPhillips (COP) declares $0.73/share quarterly dividend, 5.8% increase from prior dividend of $0.69.
  • Forward yield 3.40%
  • Payable Sept. 2; for shareholders of record July 21; ex-div July 17.
Comments (18)
  • Phenom1
    , contributor
    Comments (239) | Send Message
     
    Surprised it wasn't in the 9-10% range like the other majors. I hope they simply have better uses for their capital right now, although with the oil price relatively high, capex expansion doesn't seem advisable either.
    10 Jul, 10:56 AM Reply Like
  • Sum02006
    , contributor
    Comments (347) | Send Message
     
    Although, considering that COP did not lower the dividend after spinning off PSX--a large source of FCF--you have to respect management's ability to do what they have done, including the reshuffling of assets around the world and increasing production growth and cash flow. In that light, I'm very happy with this increase.
    10 Jul, 11:14 AM Reply Like
  • Exquisite Decay
    , contributor
    Comments (153) | Send Message
     
    Phenom1,

     

    Be patient. COP does have better use of capital right now. If you have not already, you should read through COP's recent management presentations to get an understanding of what it is doing and why. As Sum02006 wrote, COP is selling assets in troubled parts of the world and lower margin areas while concentrating on more stable and higher margin areas. This is going to take time. Management is focused and doing what it said it would do. Take comfort in that COP is doing this without issuing new debt. It has also stopped buying back shares for now. When this transition is done COP will have stronger financials and be well prepared for above industry-average growth. That's when we can expect to see dividend increases around 10%.
    10 Jul, 11:42 AM Reply Like
  • Phenom1
    , contributor
    Comments (239) | Send Message
     
    My thanks to those of you who provided some historical perspective.
    11 Jul, 09:58 AM Reply Like
  • Veritas1010
    , contributor
    Comments (1312) | Send Message
     
    A conservative increase can be respected for no other reason than prudence in a volatile market.

     

    Look at XOM, the masters of conservative distributions. I for one am very pleased. Go COP!!!
    10 Jul, 11:00 AM Reply Like
  • brent_vossler
    , contributor
    Comments (45) | Send Message
     
    I wasn't expecting much more. 66 cents for 5 quarters, 69 cents for 4 quarters, 73 cents now. Will take it. Nice in a DRIP.
    10 Jul, 11:03 AM Reply Like
  • aardvark3
    , contributor
    Comments (338) | Send Message
     
    EXCELLENT!
    10 Jul, 11:07 AM Reply Like
  • zoralsurgeon
    , contributor
    Comments (192) | Send Message
     
    I'll take it. Keep it up COP, management has done what it said it wanted to do. I find that simple fact refreshing.
    10 Jul, 11:21 AM Reply Like
  • Esekla
    , contributor
    Comments (2291) | Send Message
     
    The more important news is that Oanda is finally getting the financing in place to complete their purchase of Conoco's Nigerian assets. Once that finalizes, I'll bet you can expect another big dividend increase.
    10 Jul, 11:41 AM Reply Like
  • jumpnjoey77
    , contributor
    Comments (468) | Send Message
     
    Added 200 shares sub $83 today - nice.
    10 Jul, 11:42 AM Reply Like
  • financeminister
    , contributor
    Comments (613) | Send Message
     
    Thanks... I'll keep it. My brother in India was so upset today when I talked to my parents as his employer didn't give him a salary hike this year for the first time inspite of all his hard work (he slogs it out 9 to 12 hours a day). This is what happens when you are so focussed on working for money instead of having money work for you.

     

    I haven't got an increment in my regular job for three years but that hasn't bothered me at all... my networth, dividend income and dividend raises have increased in double digit percentage points every year.
    10 Jul, 11:45 AM Reply Like
  • CapeCapMgmt
    , contributor
    Comments (720) | Send Message
     
    I concur! COP is an excellent run company and I intend on holding as a business partner for many years to come.
    10 Jul, 12:29 PM Reply Like
  • DevilDog85
    , contributor
    Comments (266) | Send Message
     
    COP is an excellent company. A 5% increase is appreciated.
    10 Jul, 11:52 AM Reply Like
  • BAHAMAS1
    , contributor
    Comments (1800) | Send Message
     
    financeminister-
    Well said !
    10 Jul, 11:53 AM Reply Like
  • Daniel Puck
    , contributor
    Comment (1) | Send Message
     
    i bought a few thousand dollars worth of this stock at $43/share ...i see no reason to sell it now.
    10 Jul, 01:18 PM Reply Like
  • FleetUSA3226
    , contributor
    Comments (695) | Send Message
     
    Despite getting decent raises during my career I always enjoyed it when I could think that I made more money on share value increases during the year.
    10 Jul, 01:21 PM Reply Like
  • xomstock
    , contributor
    Comments (140) | Send Message
     
    Thats what I am talking about.
    10 Jul, 02:16 PM Reply Like
  • pantherpiss
    , contributor
    Comments (25) | Send Message
     
    I have been accumulating 100 Shs on each DIP for 6 months now and will continue. Stock price IMO is still under valued and the yield is terrific at over 3% ( Much more generous than XOM) The energy sector, specifically Gas & Oil should continue to prosper thru the end of this year.
    11 Jul, 09:33 AM Reply Like
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