05-29-2020, 08:04 PM
(05-29-2020, 02:00 PM)EricL Wrote: OXY cuts again. So glad I dumped this stock, wouldn't be surprised at all if it goes BK in the coming quarters.Hope everyone here sold. It's nothing but a dumpster fire. This may allow them to pay the next preferred dividend. It will be interesting to see how this progresses.
Occidental Petroleum (OXY -5.5%) says it is cutting its quarterly dividend to $0.01/share from $0.11 previously, a 91% reduction.
The company already trimmed its payout in March to $0.11 from $0.79; the latest cut will save $360M/year.