US oil companies ConocoPhillips and Anadarko have bowed to the realities of today’s battered oil market by slashing their dividends to preserve cash.
Anadarko chief executive Al Walker this week said the company will cut its quarterly shareholder payout to five cents per share from 27 cents.
Anadarko officials hinted that a reduction was likely on the company’s fourth-quarter earnings call on 2 February, after it reported a full-year loss and announced large 2016 spending cuts.
The
