ConocoPhillips Raises Quarterly Ordinary Dividend By 14% to $0.58 Per Share From $0.51 Prior
Portfolio Pulse from Benzinga Newsdesk
ConocoPhillips has announced a 14% increase in its quarterly ordinary dividend to $0.58 per share, payable on Dec. 1, 2023. The company also plans to pay its quarterly ordinary dividend and VROC concurrently from the first quarter of 2024.
November 02, 2023 | 11:07 am
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POSITIVE IMPACT
ConocoPhillips' decision to increase its quarterly dividend by 14% and to pay its ordinary dividend and VROC concurrently from Q1 2024 could be seen as a positive signal by investors, potentially leading to a short-term increase in the stock price.
Dividend increases are often seen as a sign of a company's strong financial health. By increasing its dividend, ConocoPhillips is signaling its confidence in its future earnings, which could attract investors and drive up the stock price in the short term. The decision to pay the ordinary dividend and VROC concurrently could also simplify the dividend payment process, which might be appreciated by investors.
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