NEW YORK (Thomson Financial) - Occidental Petroleum Corp. Friday said its
board approved a 20 million share increase in its stock buyback program,
increasing the total number of shares authorized under the plan to 95 million.
Through the end of the second quarter, about 59.5 million shares were
repurchased under the quarter. The company said that market conditions had
allowed it the chance to buy the chares at at "significant discount to intrinsic
share value."
Shares of Occidental closed Thursday at $75.10. The stock is up 21% over the
past 52 weeks.
Ryan Vlastelica
rv/pc
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