10 Mar '20 at 8:27 pm #23178
Oil Sector route Begins:
Occidental Shares halted – announces cuts dividend and capital spending
Occidental Petroleum announced that it’s cutting its dividend to 11-cents from 79-cents and cut capital spending by nearly $2 billion.
The Occidental buy of Anardarko was one of the worst corporate moves in history and dragged Warren Buffett into it. paying 55% premium seven months ago.