ConocoPhillips Board Elects New Director, Declares Quarterly Dividend
The board of directors of ConocoPhillips (NYSE: COP) has elected Harald Norvik as a new outside director. The election of Mr. Norvik increases the total number of ConocoPhillips directors to 14, of which 13 are outside directors.
Mr. Norvik, 59, is currently chairman and partner of Econ Management AS, a consulting company. He also is chairman of the board of directors of the Oslo Stock Exchange. In addition, Mr. Norvik is a director of Petroleum Geo-Services ASA and chairman of the supervisory board of DnB NOR ASA.
Mr. Norvik formerly was president, chairman and chief executive officer of Statoil, and has served as deputy minister of petroleum and energy for the Norwegian government. He also was personal secretary to the Prime Minister of Norway.
The board also declared a quarterly dividend of 31 cents per share. This represents the same dividend rate as paid on June 1, 2005, when adjusted for the 2-for-1 stock split that was effective June 1, 2005. The dividend is payable Sept. 1, 2005, to stockholders of record at the close of business July 31, 2005.
Operates 12 Offshore Rigs
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