Replies to post #7468 on The Rising Influence of Rising Affluence

[DewDiligence]

HES (76.62) sets 2-year high (eom).

[DewDiligence]

HES increases annual dividend from $0.40 to $1.00:

http://finance.yahoo.com/news/hess-increases-quarterly-dividend-150-203000152.html

At the current share price, the new payout has a yield of only 1.3%, but an additional dividend increase is pretty likely in the next year or so.

The dividend boost—along with asset divestitures, the “declassified” BoD (#msg-90975647), and stepped-up share buybacks—is part of HES’ new business model.