Chevron's Projected Dividend Payout for 2024
Chevron's dividend continues to rise
The oil company paid a whopping $11.3 billion in dividends last year (up 3% from 2022). That was part of a record $26.3 billion in cash it returned to shareholders. (It also repurchased $14.9 billion in shares.) Chevron's share repurchase program is why its total dividend outlay was only up 3%, even though its per-share payment rose 6%.
Chevron will likely pay even more dividends this year
With its per-share payout rising 8%, it would pay about $12.2 billion in dividends in 2024 if it didn't repurchase any shares. However, it repurchased $3 billion of stock in the first quarter (a $12 billion annualized pace). Meanwhile, its first-quarter dividend outlay was $3 billion ($12 billion annualized).
- Chevron's pending acquisition of Hess could impact dividends
- A potential delay in the deal's closing could affect dividend forecasts
Conclusion: Despite uncertainties surrounding the pending acquisition and share repurchases, Chevron's dividend outlook remains strong, making it an appealing option for income-seeking investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.