ConocoPhillips (COP) Ups Dividend 20 percent

U.S. oil company ConocoPhillips (COP) raised its quarterly dividend 20 percent on Friday. The dividend is payable March 1, 2011, to stockholders of record at the close of business on February 22, 2011. This represents a 20 percent increase in the dividend rate. The co. also said it would buy back $10 billion in shares of its stock, lifting its share price 2.40% to $71.76.