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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (35543)10/7/2009 11:58:12 AM
From: E_K_S  Read Replies (1) of 78725
 
Oct. 7, 2009, 11:47 a.m. EDT
ConocoPhillips ups dividend, to sell some assets
marketwatch.com
ConocoPhillips /quotes/comstock/13*!cop/quotes/nls/cop (COP 49.06, +0.65, +1.34%) said Wednesday that it will raise its quarterly dividend and sell some assets over the next two years. The oil company said its board raised the quarterly dividend 6% to 50 cents a share. The dividend is payable Dec. 1 to stockholders of record as of Oct. 30. ConocoPhillips also said it plans to sell off about $10 billion in assets over the next two years to improve its capital position. The company said it expects to spend $11 billion on capital expeditures in 2010, down from $12.5 billion in 2009. Shares of ConocoPhillips rose 1.6% to $49.20 in recent trading.

finance.yahoo.com
To improve its financial position and strengthen its balance sheet, ConocoPhillips intends to sell approximately $10 billion of assets over the next two years. The dispositions will occur across the company’s Exploration & Production and Refining & Marketing portfolio. Proceeds from dispositions will be targeted to debt reduction, accelerating the company’s return to its stated target debt-to-capital ratio of 20 percent to 25 percent.

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If oil get's to $70-$100, then it may be a good call to sell some of their assets to reduce debt.

EKS
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