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Has Chevron’s Dividend Yield Fallen?

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Chevron’s dividend per share

In this part, we’ll discuss Chevron’s (CVX) dividend yield trend. First, we’ll review Chevron’s dividend payments in the first quarter.

Chevron’s dividend payments have grown in the past few years. In the first quarter, Chevron paid a dividend of $1.19 per share on March 11. The dividend was announced on January 30. Chevron’s first-quarter dividend payment represents 10% growth compared to the dividend paid in the first quarter of 2017.

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Chevron’s dividend yield

Currently, Chevron’s dividend yield is 3.8%. The dividend yield has fallen from its yield of 3.9% in the first quarter of 2017. The yield fell due to a steeper rise in Chevron’s stock price than the dividend paid in the stated period.

In 2018, Chevron’s cash outflows for dividends were $8.5 billion. Chevron initiated its share repurchase program, which aims to buy back ~$3 billion shares every year. Stronger cash flows backed by record upstream volumes supported the share buyback program. In 2018, Chevron bought back $1.75 billion worth of shares.

Peers’ dividend yield trend

BP’s (BP) dividend yield has fallen from 6.4% in the first quarter of 2017 to the current level of 5.6%. Total (TOT) and Equinor’s (EQNR) dividend yields have fallen from 5.3% and 4.7%, respectively, in the first quarter of 2017 to the current levels of 5.0% and 4.2%, respectively. Royal Dutch Shell’s (RDS.A) dividend yield has fallen from 6.8% to 5.9%.

Next, we’ll discuss which institutions are buying or selling Chevron stock.

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