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Big Oil Is Paying Out Years of Dividends in One Day

  • Energy sector is ‘broken ATM spewing out cash,’ Tahmazian says
  • Conoco, Canadian Natural woo investors with special dividends

Some oil and gas companies are flush with so much cash that they are paying out a full year’s worth of dividends in a single day -- and sometimes more than that.

While reporting second quarter results Thursday, ConocoPhillips informed investors that it will pay them $1.40 per share in a special dividend on October 14. For context, that’s almost three times its regular quarterly dividend of $0.46 -- and shareholders get both the regular and the special payout. The shareholder reward comes after a full quarter of crude prices averaging around $100 a barrel.