Oil and gas exploration company Apache will pay a second-quarter dividend of $0.20 per share, the same rate it paid last quarter after raising the payout 17% from $0.17 per share, the company announced today.
The board of directors said the quarterly dividend is payable on Aug. 22 to the holders of record at the close of business on July 22. Apache has paid quarterly dividends since 1965. The company also announced the regular cash dividend of $15 per share for its 6% mandatory convertible preferred Series D stock. The dividend is payable Aug. 1 to holders of record on July 15.
The regular dividend payment equates to a $0.80-per-share annual dividend yielding 1% based on the closing price of Apache's stock on May 21.
The article Apache Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Apache. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.