Exxon Mobil Corporation (NYSE: XOM)
revealed that its board has declared a cash dividend of $0.75 per share on its Common Stock for the third quarter. The company
added that the dividend would be paid on September 9 to its shareholders, whose names appear on the books of record on August
12.
The oil company paid the same amount of dividend in the second quarter. The company has been boosting its annual dividend
payment to its shareholders for 34 straight years. As a result, the average growth rate in the five-year period was 10.52 percent
while it was 7.93 percent in the three-year period.
The dividend payout ratio jumped to approximately 95 percent from the average 45.0 percent payout ratio in the five-year period
reflecting the weakness in the price realization of oil and gas. However, the dividend offered a healthy yield of 3.3 percent
compared to the five-year average of 2.8 percent.
Shares of the company traded $0.70 or $0.76 percent down at $90.83 on Wednesday.
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