Chevron Press Release - Chevron Announces Eight Percent Dividend Increase 1995-07-26
SAN FRANCISCO, July 26,1995 -- Chevron Corp. announced that the Board of Directors voted today to increase the quarterly dividend of 46.25 cents per share on the company's common stock by 3.75 cents a share, or eight percent, to 50 cents a share. This dividend increase brings Chevron's annual dividend rate to $2.00 a share, up from $1.85.
Chairman and Chief Executive Officer Ken Derr noted, "The Board's action is consistent with our mission of enhancing stockholder value. The dividend increase of eight percent reflects the company's strong second quarter earnings, our success in our cost reduction initiatives, our strong financial position and our positive long-term growth opportunities. This is Chevron's sixth dividend increase over the past seven years."
The dividend is payable Sept. 11 to stockholders of record at the close of business Aug. 17.
Updated: July 1995