Occidental Petroleum Declares Dividend: Directors declared Occidental’s...
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From Times Staff and Wire Reports
Occidental Petroleum Declares Dividend: Directors declared Occidental’s first dividend since new Chairman Ray R. Irani decided to slash the payout from $2.50 a year to $1. The quarterly dividend of 25 cents per share of common stock will be made April 15. The Los Angeles-based energy company is restructuring after the death in December of Armand Hammer. Until his death at 92, Hammer steadfastly opposed reducing the dividend.
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