Third consecutive double digit hike by Hess Corp
Energy company HES hikes 2024 dividend by 14.3%
Hess Corporation (HES) will raise its quarterly dividend by 14.3% to $0.50 per share in 2024. This marks the third consecutive double digit hike by the oil and gas company. The dividend yield for HES is 1.55% at a stock price of $128.88.
The Board of Directors of Hess Corporation declared a regular quarterly dividend of 50 cents per share payable on the Common Stock of the Corporation on September 30, 2024 to holders of record at the close of business on September 16, 2024. The dividend represents an approximate 14% increase compared to the dividend for the second quarter of 2024, which equals a 25 cent increase per share on an annualized basis.
For HES this is the third consecutive double digit annual dividend increase. The company now pays an estimated $616 million in dividends annually. This year the stock is down 12.4% but in the previous five years HES returned 35.5% annually to shareholders.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. The company has production operations located in the United States (U.S.), Guyana, the Malaysia/Thailand Joint Development Area (JDA) and Malaysia.
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