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%.