Chevron As of September 18, 2023 ticker dps (an.) 2023 hike 2022 hike 2021 hike
CVX $6.04 6.3% 6.0% 3.9%
Business yield Hike yrs 5 yr CAGR freq. paid since
Integrated Energy 3.6% 36 6.2% Quarter 1912
Chevron hikes dividend by 3.9%

Dividend Aristocrat Chevron Corporation (CVX) will increase its quarterly dividend by 3.9 percent to $1.34 per share in 2021. This follows a dividend hike of 8.4 percent to $1.29 per share announced by CVX in the first quarter of 2020. This marks the 34th consecutive year of higher dividend paid by CVX.

The next dividend is payable June 10, 2021, to all holders of common stock as shown on the transfer records of the Corporation at the close of business May 19, 2021 The ex-dividend date for the next Chevron dividend payment is May 18, 2021. A new annualized dividend rate of $5.36 per share yields 5.2% at a stock price of $103.

From the company's press release, announcing Q1 2021 results: “Earnings strengthened primarily due to higher oil prices as the economy recovers,” said Mike Wirth, Chevron’s chairman and chief executive officer. “Results were down from a year ago due in part to ongoing downstream margin and volume effects resulting from the pandemic and the impacts of winter storm Uri.”

“We maintained capital discipline with capital spending down 43 percent from last year,” Wirth added. “We realized cost efficiencies from last year’s restructuring and the integration of Noble Energy.” As a result, free cash flow excluding working capital was $3.4 billion in the first quarter 2021, and the Board approved a 4 percent dividend increase that was announced earlier this week.

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.

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Ex-date Ticker Yield YTD hike
Sep 21 MDT 3.3% 1.5%
Sep 21 IFF 4.8% 0.0%
Sep 22 WRB 0.7% 10.0%
Sep 22 ES 4.2% 5.9%
Sep 25 GE 0.3% 0.0%
Sep 25 EQR 4.3% 6.0%
Sep 26 SRE 3.2% 3.9%
Sep 26 PM 5.4% 2.4%
Sep 27 COP 1.6% 0.0%
Sep 28 DE 1.3% 12.5%