What’s Berkshire’s end game with Occidental Petroleum? It certainly seems likely that Mr. Buffett will continue to accumulate shares as the opportunity presents itself. The preferred stock is likely to be partially redeemed this year, depriving Berkshire of the 8% dividend but with the upside ...
For its part, Occidental has benefited not only from Buffett’s purchases but also the war in Ukraine that has driven oil prices to soar. The stock gained 3.9% on the 4thin the wake of the filing. It was the best-performing stock in the S&P 500 in this year’s first quarter and has...
Berkshire received those warrants as part of a deal that included what was, in effect, a$10 billion loan in 2019to Occidental to help itbuy Anadarko for $38 billion. The loan, in the form of Berkshire's purchase of preferred stock, requires Occidental to pay a dividend of 8% ...
And in exchange for his $10 billion, Buffett has received 100,000 preferred shares in Occidental , with an 8% annual dividend. Not everyone thinks the price is justified. Occidental’s stock plummeted 13% in the three weeks after it went public with the Anadarko bid, with its own ...
Or does it make sense to be a little more steady with the share repos, raise the dividend, and then leave yourself the flexibility for acquisitions? Vicki A. Hollub--President and Chief Executive Officer It really depends on the macro because what we're doing today with this accretive acqui...
Once its balance sheet is back on firmer ground, Occidental Petroleum intends to pay a higher dividend, reversing some of this year's 98.7% reduction. It also plans to grow its production. However, even when itreturns to growth mode, Occidental only expects output to increase by 5% per year...