Dividend payments in the first quarter
Chevron (CVX), ExxonMobil (XOM), Royal Dutch Shell (RDS.A), and BP (BP) have paid dividends consistently in the past few years. Before we review their dividend yield trends, let’s look at their dividend payments in the first quarter. In the first quarter, Chevron has raised its dividend payment by 6.3% quarter-over-quarter to $1.19 per share to be paid on March 11, which represents a 10.2% rise over the dividend paid in Q1 2017. Also, ExxonMobil is scheduled to pay a dividend of $0.82 per share on March 11, which represents a 9.3% increase over Q1 2017.
Likewise, BP’s dividend payment stands at $0.615 per share (or ADS) in Q1 2019, which represents 2.5% growth over Q1 2017. However, Shell’s dividend payment per share (or ADS) has remained steady at $0.94 per share in the first quarter.
Integrated energy stocks have seen a mixed trend in their dividend yields. While the dividend yields of ExxonMobil and Chevron have risen since Q1 2017, dividend yields in Shell and BP have fallen. Let’s begin with Shell’s dividend yield trend.
Shell’s current dividend yield stands at 6.0%, the highest among peers. The current yield has fallen from 6.8% in Q1 2017 due to the rise in Shell stock price in the stated period. Similarly, the dividend yield in BP has declined due to a steeper increase in its stock price than its dividends. BP’s dividend yield currently stands at 5.8%.
In contrast, ExxonMobil’s dividend yield has risen from 3.6% in Q1 2017 to the current level of 4.4%. The increase in ExxonMobil’s dividend yield is due to a rise in dividend payments and a fall in its stock price in the stated period. Similarly, the dividend yield in Chevron has increased due to steeper growth in its dividends than its stock price. Chevron’s dividend yield currently stands at 4.0%.
In the following part, we will discuss institutional activity in integrated energy stocks.