Dividend Aristocrat Chevron Corporation (CVX) will increase its quarterly dividend by 6.2 percent to $1.19 per share in the first quarter of 2019. This is the second dividend increase since 2016 and follows last year's 3.7 percent increase by the oil major.

The increased dividend is payable March 11, 2019, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 15, 2019. A new annualized dividend rate of $4.76 per share yields 4.0% at a stock price of $118.37.

For Chevron 2018 marked the 31st consecutive year the company increased its annual per-share dividend payout and this last increase puts Chevron on track to make 2019 the 32nd consecutive year with an increase in annual dividend payout.

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. Chevron has substantial operations in Angola, Argentina, Australia, Azerbaijan, Bangladesh, Brazil, Canada, China, Colombia, Democratic Republic of the Congo, Denmark, Indonesia, Kazakhstan, Myanmar, Nigeria, the Partitioned Zone between Saudi Arabia and Kuwait, the Philippines, Republic of Congo, Singapore, South Africa, South Korea, Thailand, the United Kingdom, the United States, and Venezuela.