S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Energy

Exxon Mobil Joins Dividend Hikes… Upside In High Oil Prices (XOM, CVX)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

coutesy of Exxon Mobile Corp.
Exxon Mobil Corporation (NYSE: XOM) is confirming exactly what an earlier report predicted earlier this week.  Dow Jones had a report that the DJIA components would raise their dividends again in 2012 and by about 8%.  Today’s news is even better than expected.

The dividend hike just announced by Exxon Mobil is a hike of 21% from $0.47 per share to $0.57 per share per quarter.  The prior dividend yield rate of 2.2% will now go up to 2.63% based upon the $86.65 price of the stock.

Exxon’s rival Chevron Corporation (NYSE: CVX) is only about half of its size but is a DJIA component and it has a dividend yield of close to 3.2% for income-oriented investors.  Today’s hike from Exxon Mobil does not exactly close the entire gap between the two dividends, but it will likely be two more quarters or so before Chevron moves its dividend higher.

Today’s move moves Exxon Mobil more into the middle of the pack of the 30 DJIA components rather than closer to the bottom-third of the 30 components.  More dividend hikes will be coming down the road from Exxon Mobil.  More share buybacks are likely coming down the pipe too.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

Continue Reading

Jon C. Ogg |

Chevron Dividend Hike Outshines Exxon Mobil Dividend Hike

Jon OggChevron Corporation (NYSE: CVX) is yet again trumping oil and gas rival Exxon Mobil Corporation (NYSE: XOM) ahead of…
Jon C. Ogg |

Chevron Already One-Ups Exxon On Dividend Hike Game (XOM, CVX)

courtesy of Chevron Corp.When we saw that Exxon Mobil Corporation announced a 21% hike to its dividend this morning, we…
Jon C. Ogg |

Expect Dividend Hikes After Exxon and Chevron Earnings

Thinkstock24/7 Wall St. has been tracking companies that raise their dividends for quite some time. This week both oil giants…
Jon C. Ogg |

Why We Wanted More in the Dividend Hike from Exxon Mobil

Jon OggEarlier today we had been predicting that a dividend hike was going to be announced by both Exxon Mobil…
Jon C. Ogg |

Many Big DJIA Dividend Hikes Expected Very Soon

Jon Ogg24/7 Wall St. is still a big fan of dividends. What is even better than a high dividend yield…
Jon C. Ogg |

More DJIA Stocks Set to Hike Dividends Very Soon (DIS, DIA, T, VZ, CSCO, KO, IBM, JNJ, JPM, MMM, PFE, MRK, WMT, DVY, VIG, PFM, HDV)

Dividends are still rising and equity and income investors should expect more of the same for 2012. The Walt Disney Company…
Jon C. Ogg |

Even More DJIA Dividend Hikes Coming Soon (BA, GE, DIS, T, PFE, CSCO, KO, XOM, IBM, JNJ, JPM, MMM, WMT, DVY, VIG, PFM, HDV)

Throughout December we have been giving updates on dividends that will rise in the coming days and weeks from the…
Jon C. Ogg |

How Much DJIA Dividends Will Get Raised in April (XOM, CVX, IBM, JNJ, DOW, DD, CSCO, MSFT, GE)

Jon OggThe markets may have topped and are acting choppy after Fed speak and after North Korean rhetoric, but U.S.…
Jon C. Ogg |

Exxon Mobil and Chevron Both Hike Dividends: Which Is the Best for Your Money?

ThinkstockExxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) have some serious issues in common. Two obvious issues are…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618