Anadarko Petroleum Corporation (NYSE:APC) remained among the day gainers and traded with change of 2.58% on volume of 3226459 shares in the current session as compared to average volume of 5414409 shares. During recent trade its minimum price is $58.93 and it gained highest price of $61.23. APC has total market capitalization of $32243997122. Its closing value stands at $58.93.
Anadarko Petroleum Corporation (NYSE:APC) today declared a quarterly cash dividend on the company’s common stock of 25 cents per share, an increase of 20 cents per share versus the previous quarter. The dividend is payable March 28, 2018, to stockholders of record at the close of business on March 14, 2018.
In addition, the board of directors authorized a $500-million increase to Anadarko’s previously announced $2.5 billion share-repurchase program, bringing the total repurchase program to $3.0 billion. As of Feb. 5, 2018, the company had completed $1.6 billion of repurchases under the program totaling more than 30 million shares. In addition, Anadarko intends to reduce outstanding indebtedness by more than $1 billion by retiring 2018 and 2019 debt maturities at par.
Al Walker, Anadarko Chairman, President and CEO commented that these actions to materially increase the dividend payout and expand our share-repurchase program continue to demonstrate our focus on enhancing shareholder value. In light of our commitment to capital efficiency demonstrated by investing within cash flow in a $50 oil and $3 natural gas environment, our substantial cash flow from the Western Gas franchise, and ample liquidity, we have the confidence to quintuple our dividend and increase our share-repurchase plan by $500 million to a total current program of $3 billion. As market conditions permit, we will continue to pursue opportunities to repurchase additional shares and improve our dividend. Beyond these actions to increase direct cash returns to shareholders, we are committed to debt reduction, as demonstrated by our intent to retire at par more than $1 billion of near-term maturities, while looking for economic opportunities to pursue additional liability-management activity for future maturities.”
Anadarko Petroleum Corporation (NYSE:APC) performance has been seen in a bearish manner based on -3.78% week performance. In the last month, the price of 4.49% increased. APC got 16.12% performance during the quarter and given 29.57% performance over the last six months. Shares are now down -16.80% over the past year and documented year to date performance at 7.18%.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production, Midstream, and Marketing. Anadarko Petroleum Corporation was founded in 1959 and is headquartered in The Woodlands, Texas.