|By Marketwired .||
|August 6, 2013 06:15 PM EDT||
HOUSTON, TX -- (Marketwired) -- 08/06/13 -- The Board of Directors of Anadarko Petroleum Corporation (NYSE: APC) today declared a quarterly cash dividend on the company's common stock of 18 cents per share, a 100-percent increase from 9 cents per share in the previous quarter. The dividend is payable Sept. 25, 2013 to stockholders of record at the close of business on Sept. 11, 2013.
"This substantial increase in our cash dividend reflects the confidence we have in our portfolio and its capability to deliver capital-efficient growth within cash flow," Anadarko Executive Vice President and CFO, Bob Gwin said. "We continue to focus on generating strong returns for, and returning cash to, our shareholders, and this is a very positive step in that direction."
The amount of future dividends for Anadarko common stock will depend upon earnings, financial condition, capital requirements and other factors. The Board of Directors will determine dividends on a quarterly basis.
Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2012, the company had approximately 2.56 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. For more information about Anadarko and APC Flash Feed updates, please visit www.anadarko.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko's ability to meet financial and operating guidance, achieve its production targets, successfully manage its capital expenditures, and maintain or increase future dividends for Anadarko common stock. See "Risk Factors" in the company's 2012 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.