While there are plenty of dividend opportunities available in the oil patch, (NYSE: CVX) stands as one of the most popular options for income investors. From its lengthy record of boosting its distribution to the fact that Chevron has earned the Warren Buffett seal of approval (it's one of the largest holdings in the Berkshire Hathaway portfolio), there are a variety of reasons investors power their portfolios with the oil supermajor.

Despite these credits to its name, it's always important to remember to do some research -- paying particular attention to the dividend amount and the payout ratio.

Demonstrating a steadfast commitment to rewarding shareholders, Chevron has hiked its dividend annually for the past 37 years. In each of the first two quarters of 2024, Chevron returned $1.63 per share to investors. If it maintains the same amount in the third and fourth quarters of the year, it will total $6.52 per share, and it will mean that it will have increased its dividend at a 4.8% compound annual growth rate (CAGR).

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Source Fool.com