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ConocoPhillips Profit Better Than Expected

- Feb 06, 2018 -

According to Dow Jones Newswires, ConocoPhillips February 1 the company announced in the fourth quarter of last year, the company achieved a net profit of 1.6 billion US dollars, combined earnings per share of 1.32 US dollars; the same period last year loss of 35 million US dollars, a loss of 3 cents per share. 

Adjusted earnings per share of 45 cents, slightly better than expected, FactSet survey average of 44 cents. ConocoPhillips said that under the new tax law, deferred tax asset revaluation generated a non-cash tax return of approximately $ 900 million, boosting corporate profits. The company said it would raise its quarterly dividend by 7.5% to 28.5 cents a share, to be paid on March 1 to shareholders who registered before February 12.