Chevron increases dividend for 29th consecutive year

Dividend Aristocrat Chevron (CVX) will increase its dividend by 0.9%.

The quarterly dividend will be raised to $1.08 per share, marking 29 years of consecutive dividend increases.

This week's (Wednesday Chevron announced its dividend hike) small dividend hike follows a 7% dividend increase in 2014 to $1.07 quarterly. In 2015 Chevron decided not te raise its annual dividend.

With Wednesday's small dividend increase Chevron has made sure that it will remain a member of the Dividend Aristocrats Index.

Based on a closing price of $101.29 on Wednesday the estimated dividend yield for Chevron is 4.3%.

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