Anadarko Raises Dividend Payout, Share Buyback Program
Feb 7 (Reuters) - Oil and gas producer Anadarko Petroleum Corp said on Wednesday it increased its quarterly dividend and also raised its share buyback program, amidst an improving environment for the U.S. oil industry.
Anadarko raised its quarterly dividend to 25 cents per share from 5 cent per share, and added a further $500 million to its $2.5 billion-share buyback program.
The company on Tuesday beat Wall Street profit estimates on the back of higher crude prices.
As oil prices climb, U.S. oil companies have been coming under pressure from investors to increase their shareholder returns after years of reinvestment during the shale boom.
(Reporting by Anirban Paul in Bengaluru; Editing by Savio D'Souza)
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