Reported 23 days ago
ConocoPhillips is set to enhance its quarterly dividend by 34% following a significant acquisition of Marathon Oil. The oil giant reported strong third-quarter results, achieving over 1.9 million BOE/d and robust cash flows, which allowed it to distribute $2.1 billion to investors. With a new $20 billion stock buyback plan, ConocoPhillips aims to accelerate capital returns, especially after the anticipated benefits from the $22.5 billion merger with Marathon, expected to enhance earnings and cash flow.
Source: YAHOO