Dividend Increase Announcement
On October 27th, Exxon Mobil announced a dividend increase of 1.11%. This will increase their dividend per quarter from $0.87 to $0.88. It is payable on December 10th for shareholders of record on November 12th. The new quarterly dividend represents an annualized dividend amount of $3.52 per share as compared to the current annualized dividend amount of $3.48 per share.
Exxon Mobil Dividend Information
Annual Dividend: $3.52
Dividend Yield: 5.47%
Dividend Growth History: 1 year
Dividend Increase Effect On More Dividends
I am currently holding 38.65 shares of Exxon Mobil in the More Dividends portfolio. With this 1.1% increase it will add an additional $1.54 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
The price of oil has been moving up so I would have liked to see a larger increase from this energy giant but after not getting an increase last year, I am content with getting any kind of increase.
I have added to this position since the share price has been well below my cost basis. These days I am starting to wonder if maybe I should have initiated a new position in another energy company. It is definitely and idea worth doing some more research on.
For now, I will continue to hold this position and let the dividends continue to compound.
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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