Dividend Increase Announcement
On October 28th, Exxon Mobil announced a dividend increase of 3.4%. This will increase their dividend from $0.88 to $0.91. It is payable on December 9th. The new dividend represents an annualized dividend amount of $3.64 per share as compared to the current annualized dividend amount of $3.52 per share.
Exxon Mobil Dividend Information
Annual Dividend: $3.64
Dividend Growth History: 39 years
Dividend Yield: 3.38%
Dividend Increase Effect
I am currently holding 40.319 shares of Exxon Mobil stock in the More Dividends portfolio. With this 3.4% increase it will add an additional $4.84 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings the new grand total up to $2,318.39.
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Current Stock Position
Exxon Mobil was one of the first positions that I ever started when I began investing. The Oil and Gas sector is very cyclical so I have held this position through some highs and some lows.
Overall, I think that the company is solid with many more years of dividend growth still to come.
Since intitally opening this position, I have also started a position in BP. I continue to add to both positions when I am presented with some good buying opportunities.
Currently, with the price of gas being so high, I am not sure when I will see these positions drop below my cost basis. Until that time, I will continue to be a patient investor.
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
Recent Dividend Increases in Portfolio
Microsoft Increases Their Dividend by 10% in 2022
Lockheed Martin Increases Their Dividend by 7.1% in 2022
WestRock Increases Their Dividend by 10% in 2022
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