ConocoPhillips Announces $15 Billion Share Repurchase Program

ConocoPhillips (NYSE: COP) announced the repurchase of up to $15 billion of the company’s shares through the end of 2008. The $15 billion includes $2 billion remaining under the existing $4 billion program.

The company expects third quarter 2007 purchases of $2 billion to $3 billion, and fourth quarter 2007 purchases of a similar range.

ConocoPhillips today also announced a quarterly dividend of 41 cents per share.

ConocoPhillips is an integrated petroleum company with interests around the world.

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PAYOUT YIELD ANALYSIS

With 1.63 billion shares outstanding, the $15 billion repurchase will return $9.20 per share.  With an annualized dividend of $1.64, the combined Total Payout will be $10.84.  At a share price of $83, the projected Total Payout Yield will be 13.1% if the repurchase is completed over the next 4 quarters.

- Payout Yield Staff

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