Chevron Corporation, an American multinational energy explorer and world’s third-biggest oil explorer by market value might raise the dividend growth by the coming two years. This acceleration is due to the giant projects that the company is going to take.
Thanks to the investment made by the company in the Australian liquefied natural gas which is showing upward movements, Chevron is expected to have high payouts for 2018 and 2019. This lift in the payout will be more than the annual growth of last five years, valuing around 5%, mentioned Sam Margolin in notes to the clients.
He further stated that, Chevron’s present capital budget is enough to cater the company’s crude and gas projects. Apart from its profitable investments in Australian liquefied natural gas, the company is earning upward growing cash flow from the $37 billion extension of its Tengiz field in Kazakhstan.
Chevron is spending the equivalent of around $1 million an hour on dividends.