OTHER NEWS - Dec. 29, 1992

Oxy to Pay Dividend of at Least $1: Occidental Petroleum Corp. has agreed to pay at least $1 a share in annual dividends on its common stock through 1997 to settle a class-action lawsuit. The lawsuit alleged that the oil giant committed securities fraud by cutting its annual dividend to $1 in January, 1991, shortly after assuring shareholders the previous $2.50 dividend it was paying was secure, said New York attorney Joe Weiss, who represented the shareholders. The company agreed to pay an annual common stock dividend through at least 1997 of 50% of the company’s “recurring and sustainable” earnings if such earnings exceed $2 a share annually. The settlement is subject to approval by the court.