ConocoPhillips (COP) will lower its quarterly dividend by 66.2 percent to $0.25 per share in the first quarter of 2016. The will end the oil major's track record of 15 consecutive years of annual dividend increases.

The first lowered quarterly dividend is payable on March 1, 2016, to stockholders of record at the close of business on February 16, 2016. The ex-date for this next dividend of 25 cents per share is February 11, 2016.

ConocoPhillips is an energy exploration and production company, headquartered in Houston, Texas. Conoco explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG) in approximately 20 countries, including Norway, the United States, the UK, Canada, Australia, China, Indonesia, Malaysia and Qatar.