Item 7.01 Regulation FD.
On September 15, 2020, at the close of the 2020 put election period, Occidental
Petroleum Corporation (the "Company") received notice from The Bank of New York
Mellon Trust Company, N.A., as trustee of the Company's outstanding Zero Coupon
Senior Notes due 2036 (the "Zero Coupon Notes"), that approximately $2.0 million
in principal amount of the Zero Coupon Notes were put to the Company for payment
in October 2020 for their then-accreted value. Along with the payment of the put
Zero Coupon Notes, the Company will use the remaining net proceeds of
approximately $865 million from its August 2020 senior unsecured notes issuance
to repay in full its floating rate notes due August 2021 and pay down a portion
of the Company's variable rate Term Loan due August 2021.
On September 17, 2020, the Board of Directors of the Company declared a
quarterly dividend on the Company's Cumulative Perpetual Preferred Stock, Series
A, par value $1.00 per share (the "Series A Preferred Stock"), to be paid in
cash at a rate of $2,000 per share, on October 15, 2020 to holders of record of
the Series A Preferred Stock as of September 30, 2020.
The information furnished pursuant to this Item 7.01 shall not be deemed to be
"filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, and will not be incorporated by reference into any filing under the
Securities Act of 1933, as amended, unless specifically identified therein as
being incorporated therein by reference.
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