Cash-strapped Occidental will pay Warren Buffett's $200 million dividend in stock as the oil market melts down

on Wednesday after the International Energy Agency projected a record demand slump through 2020.

The stock payment could prove costly should Occidental emerge triumphant from the coronavirus lockdown. Shares stood at $13.28 as of 1:15 p.m. ET Wednesday, down about 68% year to date. Berkshire held 2% of Occidental shares by the end of 2019, The Journal reported, and its newly bolstered stake could surge in value if oil market demand recovers.Occidental also faces a $40 billion debt pile it needs to pay off, likely boosting the appeal of keeping cash.

So they end paying around 35% intrest

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Fuente: MarketWatch - 🏆 3. / 97 Leer más »