(Bloomberg) — Occidental Petroleum Corp. will pay about $200 million in dividends on preferred shares to Warren Buffett’s Berkshire Hathaway Inc. in cash rather than common stock, a sign of the shale driller’s growing confidence in its ability to manage its debt load.The $2,000-per-share payout on Occidental’s series A cumulative perpetual preferred stock will be paid on Oct. 15, the company said in a filing on Monday.Occidental had been making the payments with stock since April to conserve cash as it sought to fend off crude’s worst price-collapse in a generation after borrowing massively to buy Anadarko Petroleum Corp. last …read more
Source:: Yahoo Finance
