BY Staff and Wire Reports
Wednesday, December 05, 2012
12/05/12 at 4:07 AM
Helmerich & Payne to double dividend
Helmerich & Payne Inc. will more than double its quarterly dividend to 15 cents per common unit, the Tulsa-based contract drilling company and rig manufacturer announced Tuesday.
The payout will be March 1 to shareholders of record at the close of business Feb. 15. Helmerich & Payne's fiscal year ended Sept. 30.
"We have delivered dividend increases every year for over 40 years and we are pleased to announce a significant increase for fiscal 2013," CEO Hans Helmerich said in a statement. "Our continuing success allows for the probability of maintaining this strong record and of increasing dividend levels in coming years as well as pursuing future growth opportunities."
The company owns and operates more than 300 rigs in the U.S. land, international and offshore drilling markets.
ConocoPhillips raises $2 billion with bond sale
ConocoPhillips has sold $2 billion of bonds in two parts, its first offering since 2009.
The nation's largest independent oil producer issued $1 billion each of 1.05 percent, five-year securities to yield 47 basis points more than similar-maturity Treasuries and 2.4 percent, 10-year notes at a relative yield of 80 basis points, according to data compiled by Bloomberg.
Proceeds from the sale will be used for general corporate purposes, which may include reducing outstanding commercial paper, Houston-based ConocoPhillips said Tuesday in a regulatory filing.
The company last issued new debt in May 2009 when it raised $2.5 billion.
Stocks little changed as budget talks continue
Stocks moved only slightly Tuesday on Wall Street as budget talks continued in Washington.
The Dow Jones industrial average closed down 13.82 points at 12,951.78 after trading in a narrow range of just 82 points. The Standard and Poor's 500 was down 2.41 points to 1,407.05. The Nasdaq composite was down 5.51 at 2,996.69.
Baxter to buy Gambro in $2.76 billion deal
Drug and medical device maker Baxter International Inc. plans to buy the privately held Swedish company Gambro AB for $2.76 billion to broaden its dialysis product portfolio.
Gambro makes dialysis products for patients with acute or chronic kidney disease, and Baxter said it had sales of about $1.6 billion last year.
Deerfield, Ill.-based Baxter said dialysis treatment rates are rising by more than 5 percent annually, partly due to growing rates of diabetes and high blood pressure. More than 2 million people globally are on some form of dialysis.