Today CVX announced a 0.9% increase in its quarterly dividend. Chevron has increased its annual dividend payment for 29 consecutive years. The dividend is raised from $1.07 to $1.08. The dividend pay date is December 12, 2016 to shareholders of record on November 18, 2016 (ex dividend November 16, 2016).
The new dividend amount represents an annualized dividend amount of $4.32 per share, up from $4.28. The dividend yield on current price is 4.27%.
My Vrijheid Fonds consist of 36 shares of CVX, so my annual dividends will increase by $1.22 (after taxes). My projected annual (2016) total amount from my shares of CVX will be $117.77 after taxes.
DGI at work! I love it!
The oil prices are still low. That is one of the reasons why CVX has a hard time. So nobody really expected a dividend raise. With this raise the management shows its dedication to their shareholders. Great!