Assessing Chevron’s Dividend Yield ahead of Its Earnings Results

Chevron (CVX) is expected to post its first-quarter earnings results on April 26, 2019. Let’s review the stock’s dividend yield ahead of its earnings release.

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Chevron’s dividend payments have been rising steadily over the past several years. In the first quarter of 2019, Chevron paid a dividend of $1.19 per share, a 10.2% rise compared to the first quarter of 2017. It declared this dividend on January 30, 2019, and paid it on March 11, 2019. In 2018, Chevron’s dividend cash outflows stood at $8.5 billion.

Chevron’s dividend yield currently stands at 3.8%. The company increased its dividend payment in the first quarter.

Chevron has also delivered shareholder returns in the form share repurchases. The company’s share repurchase program aims at buying back ~$3 billion worth of shares every year. Stronger cash flows backed by record upstream volumes have supported its share buyback program. In 2018, it bought back $1.75 billion worth of shares.

Chevron’s peers with higher dividend yields include Royal Dutch Shell (RDS.A), BP (BP), Total (TOT), Eni (E), and ExxonMobil (XOM). Shell and BP have yields of 5.8% and 5.5%, respectively. Total’s, Eni’s, and ExxonMobil’s yields stand at 5.2%, 5.4%, and 4.0%, respectively.