Apache Increases Common Dividend 25 Percent to 25 Cents Per Share
HOUSTON, Feb. 6, 2014 /PRNewswire/ -- The Board of Directors of Apache Corporation (NYSE, Nasdaq: APA) today announced that it has raised the regular quarterly cash dividend on the company's common shares to 25 cents per share, an increase of 25 percent.
The latest increase follows an 18-percent increase in the quarterly dividend approved in 2013 and a 13-percent increase approved in 2012.
"Apache's portfolio has been rebalanced to emphasize predictable and profitable growth, particularly from our oil- and liquids-rich onshore North American assets," said G. Steven Farris, chairman of the board and chief executive officer. "The board significantly increased the dividend again this year because it has confidence in Apache's ability to execute our future growth plans."
The dividend on common shares is payable on May 22, 2014, to stockholders of record on April 22, 2014. Apache has paid a common dividend to stockholders since 1965.
Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom, Australia and Argentina. Apache posts announcements, updates, investor information and all recent press releases on its website, www.apachecorp.com.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," and similar references to future periods. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions, risks and uncertainties. These risks include, but are not limited to the volatility of oil and natural gas prices, uncertainties inherent in estimating oil and natural gas reserves, drilling risks, and other risks, uncertainties and factors discussed in Apache's 2012 Form 10-K, on our Web site and in our other public filings and press releases. There is no assurance that Apache's expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements. Unless legally required, Apache assumes no duty to update these statements as of any future date.
SOURCE Apache Corporation