Chevron Raises Dividend, Matching ExxonMobil's Percentage Boost
Oil company Chevron Corp. raised its quarterly dividend by 11%, with the size of the percentage increase matching what larger peer Exxon Mobil Corp. announced earlier Wednesday.
Chevron will pay a quarterly dividend of $1 per share to holders of common stock as of May 17. The increase will cost Chevron roughly $194 million quarterly.
Chevron, which is due to release first-quarter results Friday, earlier this month disclosed its U.S. and international production declined in the first two months of the year compared with the previous quarter, in part reflecting maintenance activity.
Analysts surveyed by Thomson Reuters expect Chevron will report a 12% jump in first-quarter sales, though per-share earnings are expected to drop 4%.
Exxon's first-quarter results, meanwhile, are scheduled for Thursday.
Chevron's shares, which have risen 9.4% to $118.28 in 2013, were inactive in after-hours trading.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 13 Offshore Rigs
- ExxonMobil Says Julia, Hadrian South Operations Back To Normal After Nate (Oct 10)
- Iraq's Talks with Exxon on Southern Oilfields in Final Stages-Minister (Oct 09)
- U.S. Gulf Oil Producers Start Evacuating Staff Ahead of Tropical Storm Nate (Oct 05)
Company: Chevron Corporation more info
- Canada's Keyera Signs Pact With Chevron To Transport, Store NGL (Oct 10)
- Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
- Petrofac Extends North Sea Contract with Chevron (Oct 05)