Dividend Increase – Exxon Mobil (XOM)
Dividend Increase Announcement
On April 25th, Exxon Mobil announced a dividend increase of 6.5%. This will increase their dividend per quarter from $0.77 to $0.82. It is payable on June 11th for shareholders of record on May 14th. The new monthly dividend represents an annualized dividend amount of $3.28 per share as compared to the current annualized dividend amount of $3.08 per share.
Exxon Mobil Dividend Information
Annual Dividend: $3.28
Dividend Yield: 3.87%
Payout Ratio: 63.2%
Dividend Growth History: 35 years
Dividend Increase Effect On More Dividends
I currently am holding 20.369 shares of Exxon Mobil. With this 6.5% increase it will only add $4.07 to my Projected Annual Dividend Income.
WOW! This dividend increase surprised me. I was expecting this increase to raise the dividend to $0.079 or $0.80 so I am extremely surprised to see the dividend increased to $0.82. Exxon Mobil is one of my largest holdings so this is a well received dividend increase. Unfortunately, since it is one of my largest holdings I have not been able to buy more while the price was below my cost basis. I am going to keep my eye on Exxon Mobil and look for more opportunities to add to this position.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Exxon Mobil? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
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Agree Jason. This one surprised me to the upside as well. I have been a little disappointed in increases from PG and IBM recently so it’s good to have an increase to the upside here. With economic growth, inflation and higher oil prices the integrated oil company’s are finally coming out of the doldrums of the past few years. Tom
Tom from Dividends Diversify recently posted…The New Millionaires | Demographics | Part 3
I totally agree. On this recent pullback I really wanted to buy more but it is already one of my largest holdings. I am sure I will get more opportunities to add to my position in the future.