By Levi Sumagaysay
ConocoPhillips (COP) announced Monday that it is raising its quarterly dividend 7%, from 43 cents a share to 46 cents a share.
The dividend will be payable Dec. 1 to stockholders of record on Oct. 28.
The oil company also said Monday that it is buying Shell's Permian basin position for $9.5 billion in cash. Shell Enterprises is a subsidiary of Royal Dutch Shell (RDSA.LN).
(END) Dow Jones Newswires
09-20-21 1726ETCopyright (c) 2021 Dow Jones & Company, Inc.