Exxon Mobil raises dividend by 11%
BY DEBBIE CAI
IRVING -- Exxon Mobil board has increased its quarterly cash dividend by about 11%, as the energy company looks to boost shareholder returns.
The company will pay out 63 cents a share to shareholders, up from 57 cents issued in the 1Q, and the extra payment will cost it more than $268.2 million quarterly. Exxon has raised its annual payments to shareholders for 31 consecutive years.
Earlier this month, Exxon laid out plans for a development off Western Australia using the world's biggest floating natural gas processing plant, in a technically challenging move that underscores its bullish view on Asian demand for the fuel.
In February, the company reported its 4Q earnings rose 5.9% as stronger refining driven margins helped offset the pressure from lower production.
Dow Jones Newswires