Occidental Petroleum Raises Quarterly Dividend 7.69%

Occidental Petroleum Corporation (NYSE: OXY) increased its quarterly dividend to $0.28 per share from $0.26, a 7.69% rise. The stock’s ex-dividend date was September 10, 2026.

The new rate equates to an annual dividend of $1.12 per share. Based on a share price of $61.16, the forward annual yield is 1.83%.

The increase extends Occidental’s dividend-growth streak to four consecutive years. That record follows the company’s dividend cut in 2020, meaning the current run represents a rebuilding of the payout rather than an uninterrupted long-term growth history.

Balance-sheet progress supports the backdrop

Occidental announced the higher payout alongside strong second-quarter results. The energy producer reported $5.1 billion of operating cash flow from continuing operations and $3.0 billion of free cash flow before working capital. It also reduced principal debt by $1.9 billion to $11.8 billion, moving closer to management’s $10.0 billion milestone. Occidental’s second-quarter results provide the operational and balance-sheet context surrounding the board’s decision.

The company’s latest quarterly filing identifies maintaining a strong balance sheet, delivering a sustainable and growing dividend, and sustaining base production among its strategic priorities. The filing also cautions that demand and realized prices can be affected by changing economic and trade conditions, underscoring the commodity sensitivity of the cash flows funding shareholder distributions. Occidental’s Form 10-Q contains those disclosures.

Occidental is an international energy company with oil and natural-gas production, transportation and marketing operations. Its principal operating regions include the United States, the Middle East and North Africa, while the company is also developing carbon-management technologies. Occidental’s corporate release describes the company’s business footprint.

What it means for income investors

The increase raises the recurring cash income attached to each Occidental share, while the four-year growth streak signals continued recovery from the 2020 reduction. The supplied dividend-safety assessment is 67 out of 100, carrying a B grade. Investors evaluating the payout can weigh that rating and the 1.83% forward yield against the inherent variability of an energy producer’s commodity-linked cash flow.