ConocoPhillips Raises Quarterly Dividend - Quick Facts

(RTTNews) - ConocoPhillips (COP) announced that its board has raised the company's quarterly dividend to 73 cents per share, an increase of 5.8 percent. The company said the dividend increase is part of its plan to increase value for shareholders through portfolio optimization, focused capital investments that deliver 3 to 5 percent growth in both production and cash margins, improved returns on capital, and a compelling dividend.

The dividend increase marks ConocoPhillips' second dividend increase since the company separated its downstream operations in May 2012 to become an independent E&P company based on production and proved reserves.

Ryan Lance, CEO, said: "Our company's financial position is strong and our outlook for growth is positive. Our diverse asset base, significant technical capability and strong balance sheet provide confidence in ConocoPhillips' future and the ability to execute our plans for growth and returns."

The dividend is payable on Sept. 2, 2014, to stockholders of record at the close of business on July 21, 2014.