Occidental Petroleum (OXY) Climbs 9% on Dividend Hike

Core Viewpoint - Occidental Petroleum Corp. has shown strong performance with a significant increase in dividends and a notable recovery in net loss, despite a decline in total oil and gas sales [1][3]. Financial Performance - In the fourth quarter, Occidental Petroleum narrowed its net loss attributable to shareholders by 77% to $68 million from $297 million year-on-year [3]. - For the full year, net income attributable to shareholders decreased by 30.6% to $1.65 billion from $2.38 billion in the previous year [4]. - Total oil and gas sales for the fourth quarter were $655 million, down 44% from $1.17 billion year-on-year [3]. - Full-year total oil and gas sales amounted to $4.59 billion, an 11.7% decrease from $5.2 billion in the comparable period [4]. Dividend Announcement - Occidental Petroleum has raised its quarterly dividend to $0.26 per share, which is double the amount from four years ago [2]. - The first dividend payment will be made on April 15, 2026, to shareholders on record as of March 10 [2]. Debt Management - The company announced a tender offer for five senior notes due between 2029 and 2036, totaling $700 million [4]. - Only approximately $58 million will be accepted for the zero coupon series due in 2036 [5].