Occidental Q2 Profit Jumps

(RTTNews) - Occidental Petroleum Corp. (OXY) on Wednesday reported a sharp increase in second-quarter earnings.

The energy producer reported second-quarter net income attributable to common stockholders of $2.81 billion, or $2.75 per share, compared to $288 million or $0.26 per share last year.

Adjusted income from continuing operations was $2.4 billion, or $2.40 per share, compared to $266 million or $0.26 per share last year.

Global production averaged 1.433 million barrels of oil equivalent per day, exceeding the high end of guidance, led by strong performance in the Permian and Gulf of America operations.

The company also announced an 8% increase in its quarterly dividend to $0.28 per share, payable October 15 to stockholders of record on September 10.

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