Wednesday,
January 25th the Board of Directors of Chevron Corporation (CVX)
announced
a quarterly dividend increase of from $ 1.42 to $ 1.51 per share
that’s payable March 10, 2023 to holders of record February 16,
2023. This represents a 6.34% increase over the last quarterly
dividend.
The
Board also authorized the repurchase of the company’s shares of
common stock in an aggregate amount of $75 billion. The $75 billion
authorization takes effect on April 1, 2023, and does not have a
fixed expiration date. It replaces the Board’s previous repurchase
authorization of $25 billion from January 2019, which will terminate
on March 31, 2023, after the completion of the company’s
repurchases in the first quarter 2023.
With
current price $ 174.20 (yesterday's close), this raise brings their
dividend yield to 3.47%.