Hess 2000 Annual Report Download - page 28

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The Corporation strives to provide a safe working environ-
ment for its employees, contractors, customers and the
public. To achieve this goal, the Corporation sets perfor-
mance objectives and targets for continual improvement.
Programs are in place to enhance safety awareness and
knowledge of safety policies. Inspections and audits are
used to monitor performance.
Forward Looking Information
Certain sections of the Financial Review, including refer-
ences to the Corporation’s future results of operations and
financial position, capital expenditures, derivative
disclosures and environmental sections, represent for-
ward looking information. Forward looking disclosures
are based on the Corporation’s current understanding and
assessment of these activities and reasonable assumptions
about the future. Actual results may differ from these dis-
closures because of changes in market conditions, govern-
ment actions and other factors.
Dividends
Cash dividends on common stock totaled $.60 per share
($.15 per quarter) during 2000 and 1999. In March 2001,
the Corporation increased its quarterly dividend to $.30
per share.
Stock Market Information
The common stock of Amerada Hess Corporation is trad-
ed principally on the New York Stock Exchange (ticker
symbol: AHC). High and low sales prices in 2000 and
1999 were as follows:
2000 1999
Quarter Ended High Low High Low
March 31 653⁄44713⁄16 531⁄4433⁄4
June 30 701⁄8611⁄16 653⁄84715⁄16
September 30 7415⁄16 571⁄4665⁄16 563⁄4
December 31 761⁄4581⁄8631⁄16 531⁄2
Quarterly Financial Data
Quarterly results of operations for the years ended Decem-
ber 31, 2000 and 1999 follow:
Sales Net
Millions of and other income
dollars, except operating Operating Special Net per share
per share data revenues earnings items income (diluted)
2000
First $ 2,831 $224 $ — $ 224 $2.47
Second 2,644 202 — 202 2.24
Third 2,833 257 — 257 2.86
Fourth 3,685 304 36(a) 340 3.83
Total $11,993 $987 $ 36 $1,023
1999
First $ 1,539 $ 41 $ 30(b) $71$.79
Second 1,430 37 40(b) 77 .86
Third 1,801 53 106(b) 159 1.75
Fourth 2,269 176 (45)(c) 131 1.45
Total $ 7,039 $ 307 $131 $ 438
(a) Includes a net gain of $60 million on termination of acquisition,
partially offset by a charge of $24 million for costs associated with a
research and development venture.
(b) Represents after-tax gains on asset sales.
(c) Includes special income tax benefits of $54 million, offset by
impairment of assets and operating leases of $99 million.
The results of operations for the periods reported herein
should not be considered as indicative of future operating
results.