Oil major Chevron Corporation (CVX) will increase its quarterly dividend by 7.0 percent to $1.07 per share. The next dividend is payable on December 12, 2016, to all holders of common stock on November 18, 2016.
Dividend Aristocrat Chevron now has raised its dividend for 28 consecutive years. Last year Chevron hiked its dividend by ten cents to $1.00 per share quarterly.
Chevron Corporation is global energy company. The company operates through two business segments, Upstream and Downstream, through which produces and transports crude oil and natural gas and refines, markets, and distributes fuels. Chevron is also involved in chemical and mining operations, power generation, and energy services. Earnings of the company depend mostly on the profitability of its upstream business segment. The biggest factor affecting the results of operations for the upstream segment is the price of crude oil.
2023