Chevron Corp (CVX)

[DewDiligence]

CVX boosts buyback authorization and raises dividend:

https://finance.yahoo.com/news/chevron-increases-quarterly-dividend-announces-213000580.html

A new $75B buyback authorization starts on 4/1/23 and has no expiration date. CVX had a pre-existing buyback authorization of $25B that runs until 3/31/23; hence, the actual increase in the buyback authorization is $50B plus whatever amount CVX repurchases during 1Q23, which may be somewhat less than $75B.

The new annualized dividend of $6.04 (up from $5.68) is a yield of 3.4% at the current share price ($179.08).