WTI is barely above $30, tomorrow we will have $20 something oil, oh boy lay offs are coming faster and in much bigger number, 30% will be gone if prices stay like this until June.
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Watch the security analyst meeting video: the number one priority is returning cash to shareholders. That is a clear statement of intent. It is not a sales pitch. The dividend is not absolutely safe under any condition; but it will be protected at very high costs. The shareholders own the company; the dividend will be sustained long after many are laid off and additional assets are sold. This is how the company remains one of the highest priced oil and gas stocks almost without exception. Its a strategy that allows Chevron to obtain loans when others cannot and remain in favor large wall street banks. Money will be borrowed to pay the dividend, you can count on it.
Hmm, at $30/BBL sustained let's see if Chevron can maintain its "Dividend Aristocrat" status. I would hope that we preserve cash to pay (and retain) employees, but we know how that normally goes. The Q1 2020 dividend announcement will be soon forthcoming, so we'll see.
Theres got to be some major dividend slashing among the oil majors.
Be glad you work for the strongest downstream BU too —- Refining
Be glad you work for the strongest upstream company. Pray for friends at other companies.
Italy closed all business (except the essential ones - power, water, hospitals)
It's coming here too.
We've ignore it and now we are paying the price.
There is a single chart that shows you where we are headed: flattenthecurve.com
It’s almost like electing a total blathering id–t President may not have been a good idea when a real crisis hits.
It is sad.