Chevron (NYSE:CVX) stock is down 68% from its 52-week peak. And that is after having risen 33% from its lows. But all is not lost. The company has made it clear that its dividend is its major priority. The price of oil has been on a steep downturn. Along with the coronavirus impact, these two factors have been a double-whammy killing the stock. But Chevron stock now has a very enticing 7.2% dividend yield. Given the company’s stated goal of maintaining that payout, the stock is likely to have hit a bottom.
On March 24, Chevron came out with a major statement about how it would keep paying the dividend. At the end of the statement, here is what CFO Pierre Breber said: “Our focus is on protecting the dividend, prioritizing capital that drives long-term value, and supporting the balance sheet.” Chevron will cut is capital spending by over 30% in 2020, on a run-rate basis. For example, its second half 2020 capex spending will be just $7 billion, or $14 billion annualized. Chevron’s budget had plans to increase its spending by 30%.
Source: InvestorPlace
Related Articles:
- 5 Higher Yielding Basic Materials Stocks With Growing Dividends
- 4 Dividend Growth Stocks That Could Make You Wealthy
- A Roadmap To Build Wealth With Dividend Stocks
- High-Yield Managed Distribution Policy Funds
- 5 Blue Chip Dividend Stocks For When the Chips Are Down
Chevron has Put a Priority on Protecting Its Big, Fat Dividend
Posted by D4L | Thursday, April 23, 2020 | ArticleLinks | 0 comments »________________________________________________________________
Subscribe to:
Post Comments (Atom)
Popular Posts Last 30 Days
-
All seven equities on this list have dividend yields above 13%, but the highest one yields nearly 27%! In addition, each equity has a positi...
-
There are some dividend aristocrats which have not only maintained but increased their dividends for over half a century. Having survived ev...
-
Dividend-payng semiconductor stocks to buy during a computer chip shortage for electric vehicles (EV), smartphones and other technology prod...
-
Dividend safety is especially important when stock prices are falling. Many companies cut their dividend payouts in 2020 during the coronavi...
-
Investors in retirement may desire additional income. Those who don’t have a pension are likely relying on Social Security, and their retire...
-
If you're looking for income, turning to your investment portfolio is a natural choice. Lately, that's been a tough assignment, beca...
-
Investing in dividend-paying stocks is a good way to generate fairly reliable income. However, that strategy doesn't necessarily mean yo...
-
The four dividend-paying retail technology stocks to buy towered over the rest at a BoA Global Research Consumer & Retail Technology C...
-
Sometimes, stocks are a bargain because the company's prospects are being overlooked, and sometimes, it's just the result of a broad...
-
High yields are often found in sectors that are out of favor, which is why you can get some pretty impressive dividends from the energy sect...

0 comments
Post a Comment
Post a Comment
Note: Only a member of this blog may post a comment.