Perhaps more important than the divi itself is that an increase addresses the concern mgmt. would not make good on planned production growth. Hard to believe they would increase the divi and not gen increasing cash to cover it.
"The dividend increase is part of ConocoPhillips’ plan to increase value for shareholders through portfolio optimization, focused capital investments that deliver 3 to 5 percent growth in production and cash margins, improved returns on capital, and a compelling dividend."
Increasing cash is a given. Fourth quarter THIS year will be the turnaround for increasing production. COP is in the end steps of realignment.. Fortunately, management fully intends to reward shareholders.