Chevron (CVX) announced that its quarterly dividend will be raised by 7% from $1.00 per share to $1.07 per share. This dividend increase is the company’s 27th consecutive annual increase. The new dividend is scheduled to be paid on Jun 10, 2014 to shareholders on record as of May 19, 2014. The new dividend rate results in an annualized yield of 3.41% based on CVX’s closing price.
My portfolio consists of 10 shares of Chevron, which increases my annual dividend raise from $40.00 to $42.80. My yield-on-cost rises to 3.60%.