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Anadarko Petroleum boosts dividend by 50 percent

Oil and gas company Anadarko Petroleum boosts quarterly dividend by 50 percent

Associated Press

HOUSTON (AP) -- Anadarko Petroleum Corp. said Tuesday that it plans to boost its quarterly dividend by 50 percent.

The oil exploration and production company said its board approved a quarterly dividend of 27 cents per share, up from 18 cents per share.

The dividend will be paid on June 25 to shareholders of record as of June 11.

Shares of Anadarko, which is based in The Woodlands, Texas, rose 57 cents to $101.45 in after-hours trading Tuesday. Its stock is up more than 16 percent in the past year.