Murphy Oil CEO gets $7 million in 2006 |
|
|
|
Published
:
Thu, 29 Mar 2007 23:31
|
NEW YORK (AP) - Murphy Oil Corp.'s President and Chief Executive Claiborne P. Deming received total compensation in 2006 valued by the company at $7 million, according to the oil and gas producer's proxy statement Thursday.The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation, and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits.Deming received a base salary of $1.1 million, non-equity incentive plan compensation totaling $1.5 million and $212,438 of 'other' compensation, some of which included $56,700 in dividends paid on unrestricted stock, $100,853 use of the company jet and $53,205 in company contributions to a defined benefit plan.He also was awarded stock and options the company valued at $4.2 million on the days they were granted, according to Murphy's filing with the Securities and Exchange Commission.For fiscal 2006, Murphy posted net income of $638.3 million, or $3.37 per share, down from $846.5 million, or $4.51 per share, in 2005. The previous year included a gain of $104.5 million for sales of properties in the Gulf of Mexico. Excluding that one-time item, Murphy earned $742 million in 2005.The company said the lower earnings in 2006 stemmed lower oil and natural gas sales volumes, lower natural gas sales prices in North America and higher production and administrative expenses, as well as unfavorable foreign currency exchange rates caused by a weaker U.S. dollar.Over the course of the year, the company's stock fell from a year-high of $57.61 on July 7 to a 52-week low of $44.88 on Oct. 4. The stock has since recovered to close Thursday up 22 cents at $54.25 on the NYSE.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Settlement OK'd in Katrina oil spill 