Dividend Aristocrat Chevron Corporation (CVX) will increase its quarterly dividend by 6 percent to $1.42 per share in 2022. This comes after a dividend hike of 3.9 percent to $1.34 per share in 2021 and will mark the 35th consecutive year of higher dividend paid by CVX.

The next dividend is payable March 10, 2022, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 16, 2022. The ex-dividend date for the next Chevron dividend payment is February 15, 2022. A new annualized dividend rate of $5.68 per share yields 4.4% at a stock price of $130.

Chevron 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.