BAKU, Azerbaijan, February 5. In 2023, Chevron returned some $26.3 billion in cash to its shareholders, Trend reports.
According to the company, this marks the highest-ever amount distributed to shareholders.
As such, this included dividends amounting to $11.3 billion, reflecting a 3-percent increase from the previous year, and share repurchases totaling $14.9 billion, marking a significant 32-percent surge compared to the previous year.
Chevron's Board of Directors has approved an 8 percent boost in the quarterly dividend, bringing it to one dollar and sixty-three cents ($1.63) per share. This increased dividend is set to be paid on March 11, 2024, to all common stockholders listed on the corporation's transfer records as of the close of business on February 16, 2024.
Meanwhile, Chevron's earnings in 2023 amounted to $21.3 billion - a drop of over $14 billion (40 percent) in its earnings year-on-year ($35.4 billion in 2022). In the reporting period, $17.4 billion of those earnings accounted for upstream projects, $8.1 billion - for downstream, and almost $3 billion - for all other projects.