03-10-2020, 01:34 PM
(03-10-2020, 01:00 PM)fenders53 Wrote:(03-10-2020, 11:56 AM)stockguru Wrote:LOL, very nice spin Guru. I suppose it is if you entered in the last 24HRs. If you bought it anytime in the last ten years not so much.(03-10-2020, 11:51 AM)fenders53 Wrote:Still a 3.2% yield - as 10 year treasuries yield .6% OXY is still a yield diva!(03-10-2020, 11:13 AM)EricL Wrote: No surprise here, OXY slashes the dividend.I didn't expect it nearly this soon! I thought they would wait for cooler heads to prevail in the Saudi vs Russia throw down. I really think it will happen inside of 30 days. Maybe the reality is OXY can't pay the dividend even if some normalcy returns?
Occidental Petroleum (NYSE:OXY) says it is cutting its quarterly dividend to $0.11/share from $0.79/share and reducing capital spending, citing the sharp decline in crude oil prices.
Occidental plans to cut FY 2020 capex to $3.5B-$3.7B from its previous plan for $5.2B-$5.4B, a 32% reduction at the midpoint, and to implement additional operating and corporate cost reductions.
"These actions lower our cash flow breakeven level to the low $30s WTI, excluding the benefit of our hedges, positioning us to succeed in a low commodity price environment," the company says.
Trading remains halted.
Thank sometimes I do put in a few jokes here and there
