Chevron raises dividend by 11%, matching Exxon Mobil's percentage boost

4/25/2013

Chevron raises dividend by 11%, matching Exxon Mobil's percentage boost

BY JOHN KELL

SAN RAMON -- Chevron raised its quarterly dividend by 11%, with the size of the percentage increase matching what larger peer Exxon Mobil announced.

Chevron will pay a quarterly dividend of $1 per share to holders of common stock. The increase will cost Chevron roughly $194 million quarterly.

Chevron, which is due to release 1Q results, earlier this month disclosed its United States and international production declined in the first two months of the year compared with the previous quarter, in part reflecting maintenance activity.

Analysts surveyed by Thomson Reuters expect Chevron will report a 12% jump in 1Q sales, though per share earnings are expected to drop 4%.

Dow Jones Newswires

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