The Rising Influence of Rising Affluence

[DewDiligence]

HES—Do they talk much about growing the dividend?

Not a lot. Despite obtaining a lot of cash flow from downstream operations (including the convenience stores), HES has always been viewed by investors as more of an E&P company than a smaller version of one of the integrated oil majors.

HES certainly has the financial flexibility to hike the dividend, but I don’t think that’s a high priority for management.