Chevron Sent Shareholders $50 Billion Over the Last 2 Years (and There's a Lot More to Come)
's (NYSE: CVX) strategy of focusing on investing in its highest-return assets has paid big dividends over the years. The company is generating a growing stream of cash flow, which is giving it lots of money to return to shareholders. Over the last two years, it has sent its investors a whopping $50 billion via dividends and share repurchases.
The oil company expects to produce even more cash in the future, which should enable it to continue returning boatloads of money to shareholders.
Chevron recently reported its second-quarter results. "This quarter, we delivered strong production, enhanced our global exploration portfolio and extended our track record of consistent shareholder returns with over $50 billion of distributions in the last two years," stated CEO Mike Wirth in the earnings press release. He noted that despite some headwinds from operational downtime and softer margins, the company remains "poised to deliver significant long-term earnings and cash flow growth."
Source Fool.com
Chevron Corp. Stock
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