Friday, April 30, 2021

Dividend Increase #41 of 2021 - Chevron Corporation (CVX)



Wednesday, April 28th the Board of Directors of Chevron Corporation (CVX) announced a quarterly dividend increase of from $ 1.29 to $ 1.34 per share that’s payable June 10, 2021 to holders of record May 19, 2021. This represents a 3.88% increase over the last quarterly dividend.


This increase puts Chevron on track to make 2021 the 34th consecutive year with an increase in annual dividend payout per share.


With current price $ 106.90 (yesterday's close), this raise brings their dividend yield to 5.01%.


Chevron is a Dividend Champions with a 34 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 9.0, 6.3, 3.9 and 6.2 (Dividend Champions.xls)



Since I own 60 shares of CVX, this will increase my portfolio's projected annual net dividend income by $ 8.94.


This timing of the raise was a small surprise because I wasn’t expecting it now, maybe only in the second half of the year, but I will be happy to take this as well.


This is the sixth dividend increase I've received from Chevron Corporation since initiating a position in January 2014. During that period, the quarterly dividend has grown moderately from $ 1.00 to $ 1.36, or 36 percent.


This increase raises my YOC to 4.78%.



Summary of 2021 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long CVX


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