Dividend increase: Chevron

Article Excerpt

CHEVRON CORP. $120 (New York symbol CVX; Cyclical Growth Dividend Payer Portfolio, Resources sector; Shares outstanding: 1.9 billion; Market cap: $228.0 billion; Dividend yield: 4.0%; Dividend Sustainability Rating: Above Average; www.chevron.com) is the second-largest integrated oil company in the U.S. by revenue, after ExxonMobil (New York symbol XOM). Chevron is raising its quarterly dividend by 6.2%. Starting with the March 2019 payment, investors will receive $1.19 a share, up from $1.12. The new annual rate of $4.76 yields 4.0%. The company has now increased its dividend each year for the past 32 years. Chevron has also re-started its share repurchase program. It plans to repurchase $1 billion of its shares in 2019. Chevron is a buy. buy…