tldrdailynews.com logo

Chevron's Rollercoaster Year: Earnings Fall, Stock Rises, Shareholders Reap Record Windfall

1 min read
Source: CNBC
Chevron's Rollercoaster Year: Earnings Fall, Stock Rises, Shareholders Reap Record Windfall
Photo: CNBC
TL;DR

Chevron's fourth-quarter profits fell due to impairment charges, but the company still managed to return a record $23.6 billion to shareholders in 2023 through dividends and share buybacks. Despite a 40% profit decline, Chevron raised its quarterly dividend by 8% to $1.63. The company's stock rose about 1% in early trading. Chevron's net income fell 65% to $2.3 billion, with U.S. oil and gas assets recording a loss of $1.35 billion. The company reported an adjusted profit of $3.45 per share, beating Wall Street's estimate.

Topics:businessbusiness-finance#business-finance#chevron#dividend#earnings#oil-industry#shareholder-returns
Share this article
  1. Chevron earnings fall but shareholders see record windfall in 2023, company raises dividend 8%  CNBC
  2. NYCB Stock Drops Again, Pain Spreads to Regional Banks  Barron's
  3. Chevron’s stock rises after profit beat as revenue falls short  MarketWatch
  4. Chevron loses shine with investors after bumpy year  Financial Times
  5. Chevron: Q4 Earnings Snapshot  Quartz

Want the full story? Read the original reporting

Read on CNBC