ExxonMobil increases its dividend slightly

Exxon Mobil declared a quarterly dividend of 75 cents a share on Wednesday, an increase of 2 cents a share, to yield 3.4%. The dividend is payable to shareholders of record as of 13 May 2016.

The dividend increase is the company’s smallest in the last 34 years, as other energy firms have been reducing expenditure to conserve cash for operations.

Separately, S&P downgraded ExxonMobil to AA+ from its earlier rating of AAA.

Source: WSJ


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