On Jan. 25, 2023, Chevron (NYSE: CVX) announced its 36th consecutive annual dividend raise when it boosted its dividend by 6%. Investors were hoping for another raise in the Feb. 2, 2024, fourth-quarter earnings release -- and they got just that.

Chevron announced an 8% dividend raise lifting the payout to $1.63 per share per quarter -- or $6.52 per share per year.

Here's a look at Chevron's history of dividends, why this raise is meaningful, and why the dividend stock is a good value.

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Source Fool.com