Spokesperson for the US company Unocal said on July 14 that the company has no news to announce regarding the CNOOC bid.

The company's board of directors determined on the same day the quarterly dividend of 22 cents for ordinary shares. However, dividends would not be received by the shareholders on schedule if it merges with the CNOOC.

Dividends are due on November 10, 2005 for those who hold ordinary shares before October 11, 2005.

Unocal also said if the company is merged with another before October 11 it would not issue dividends to shareholders on the basis of the fixed quarterly dividend rate.

By People's Daily Online