Conoco Expands Share Buyback Plan, Ratchets Up Quarterly Dividend

摘要

ConocoPhillips said on Friday it will expand its share buyback program and raise its quarterly dividend by 20%. It al- so provided details of a $13.5 billion capi tal spending budget for this year. The dividend increase - to 66￠ per share - represents a continuation of ef- forts to boost returns for shareholders. In addition, the company is also authorizing the repurchase of up to $10 billion in common stock on top of an existing $5 billion share buyback program already well underway.