ConocoPhillips To Boost Dividend By 34% to $0.78/Share And Expects Buybacks Over 20B In First 3 Years, With Over $7B in the First Full Year
Portfolio Pulse from Benzinga Newsdesk
ConocoPhillips plans to increase its dividend by 34% to $0.78 per share starting in Q4 2024 and expects to repurchase over $20 billion in shares within the first three years, with over $7 billion in the first full year.
May 29, 2024 | 11:07 am
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ConocoPhillips is set to increase its dividend by 34% to $0.78 per share starting in Q4 2024 and plans significant share buybacks totaling over $20 billion in the first three years, with $7 billion in the first year.
The significant increase in dividends and the large-scale share buyback program are likely to positively impact ConocoPhillips' stock price in the short term. These actions signal strong financial health and a commitment to returning capital to shareholders, which are typically well-received by the market.
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