4 Great Reasons to Love Chevron Stock
Chevron (NYSE: CVX) has been an outstanding stock this year. Shares of the oil giant have gained more than 30% in a year when the S&P 500 has lost nearly 10% of its value. The company is capitalizing on higher oil and gas prices, enabling it to produce a gusher of free cash flow.
That's giving Chevron more money to allocate on behalf of its investors. The oil company continues to do a great job utilizing its cash to grow value for shareholders. Here are four ways it uses its cash to benefit investors.
Chevron's CFO, Pierre Breber, discussed the company's success in delivering on its financial priorities during the second-quarter conference call. The CFO noted that "the first financial priority is to grow the dividend." He pointed out, "We've done that for 35 consecutive years, increased it 6% earlier this year. It's up 20% since right before COVID, and it's doubled since 2010."
Source Fool.com
