Chevron Raises Dividend

Chevron (NYSE: CVX  ) is about to make its shareholders a little richer. The company declared a fresh quarterly dividend of $1.00 per share of its common stock, which will be dispensed on June 10 to shareholders of record as of May 17. That amount is 11% higher than the $0.90 Chevron paid in each of its preceding four quarters. Prior to that, the firm handed out $0.81 per share.

The company is a steady and reliable dividend payer. Over the past decade, its quarterly distribution has ranged from $0.40 per share to the current level.

The new dividend annualizes to an even $4.00 per share, which yields 3.4% at Chevron's most recent closing stock price of $118.28.

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