Wednesday, January 26th the Board of Directors of Chevron Corporation (CVX) announced a quarterly dividend increase of from $ 1.34 to $ 1.42 per share that’s payable March 10, 2022 to holders of record February 16, 2022. This represents a 5.97% increase over the last quarterly dividend.
With current price $ 131.33 (yesterday's close), this raise brings their dividend yield to 4.32%.
CVX is a Dividend Champions with a 35 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.3, 5.8, 4.4 and 5.6 (Dividend Champions.xls)
Since I own 60 shares of Chevron, this will increase my portfolio's projected annual net dividend income by $ 14.30.
The increase was in line with my expectations.
This is the 7th dividend increase I've received from Intel Corporation since initiating a position in January 2014. During this period, the dividend has grown moderately from $1.00 to $1.42 or 42.0%
This increase raises my YOC to 5.06%.
Summary of 2021 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long CVX
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