Chevron announces $75 billion stock buyback, dividend boost
Publishing timestamp: 2023-01-25 17:26:02
Summary
Chevron announced a $75 billion stock buyback program and dividend hike on Wednesday evening. The buyback program will become effective on April 1 with no set expiration date and the dividend hike increases Chevron's per share payout to $1.51 from $1.42. The buyback plan follows a $25 billion plan enacted in 2019 and Chevron reported more than $12 billion of free cash flow and $11 billion of net income in the third quarter alone.
Sentiment: POSITIVE
Tickers: CVX,
Keywords: energy, breaking news: markets, business news, chevron corp, politics,
Source: https://www.cnbc.com/2023/01/25/chevron-announces-75-billion-stock-buyback-dividend-boost.html