Chevron rewards its investors

Article Excerpt

CHEVRON CORP. $175 is a buy. The company (New York symbol CVX; Cyclical-Growth Dividend Payer Portfolio, Resources sector; Shares outstanding: 1.9 billion; Market cap: $332.5 billion; Dividend yield: 3.2%; Dividend Sustainability Rating: Above Average; www.chevron.com) is the second-largest integrated oil producer in the U.S. by revenue, after ExxonMobil (New York symbol XOM). The oil giant using its higher cash flow—as a result of rising crude prices—to reward investors. With the March 2022 payment, Chevron raised your quarterly dividend by 6.0%, to $1.42 a share from $1.34. The new annual rate of $5.68 yields 3.2%. It has increased that payment each of the past 35 years. As well, the company will probably buy back $11.3 billion of its shares in 2022, which is within its annual buyback goal of between $5 billion and $15 billion. Chevron is a buy. buy. …