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Friday, February 11, 2011

ConocoPhillips ups dividend, sets stock buyback, (NYSE: COP), (NYSE: OXY)

Oil company ConocoPhillips (COP.N) raised its quarterly dividend by 20 percent on Friday and said it would buy back $10 billion in shares of its common stock, lifting its share price 2 percent. The company still has about $1 billion of stock to buy back under the $5 billion repurchase plan it initiated last year. The move comes a day after Occidental Petroleum Corp (OXY.N) raised its dividend by 21 percent.

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