Exxon Mobil raises dividend for 35th year

Oil major Exxon Mobil (XOM) will raise its dividend by 2.7 percent.

Dividend Aristocrat Exxon Mobil will raise its quarterly dividend from $0.77 to $0.79 per share, marking the 35th consecutive year of dividend increases.

The increased dividend is payable on June 9, 2017 to shareholders of record of Common Stock at the close of business on May 12, 2017. Through its dividends, Exxon has shared its success with its shareholders for more than 100 years and has increased its annual dividend payment to shareholders for 35 consecutive years.

Based on the new dividend and a $81.68 share price the estimated dividend yield for Exxon Mobil is 3.8%.

Year-to-date Exxon stock has lost 9.5%, giving the company a $346 billion market cap. Out of 26 analysts that follow Exxon Mobil, 5 rank the stock a buy, with 15 'hold' recommendations and 6 'sells'. The average target price is $87.36 (6.9 percent above the current stock price).

Exxon Mobil Corporation is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The Company has exploration and development activities in projects located in the United States, Canada/South America, Europe, Africa, Asia and Australia/Oceania.