Dividend is not guaranteed at this oil price.
10 replies (most recent on top)
Remember they can borrow money real cheap to pay that dividend, the wild card is sub $20 oil that's a big problem. There are lot of employees ages 60 ish salivating for that severance! lot of fat too in middle management which can easily be fired esp for unneeded projects. The problem is they need to hold on to experienced people but I fear they may be challenged there
MW woild sacrifice his firstborn before being the first CEO in 32 years to cut the dividend. Chevron is on the elite list of stocks known as “dividend aristocrats.” Investment firms, analysts, and boomers are obsessed with the dividend. It’s safer than any of our jobs.
I stepped into CVX two days ago and am up 20%.....what’s this dividend thing you worry about?
@1flk, I was let go and I'm not a boomer. However, most of the boomers that they let go were the most talented and experienced of everyone. That's the whole problem with CVX. They cut the best people(aka boomers) who are paid the most, and think they can be easily replaced. Not so. I was lucky to find a equivalent position elsewhere.
id–t, the dividend is always guaranteed. I can tell your next to go
At least we got four more years of full pay than you did, boomer. Now go take one for the team like Lt. Gov Patrick suggested.
Stock is already up 17% on the 'good' news that the dividend is safe at the expense of budget (project) cuts and layoffs. There will be many crying Chevroids out of a job real soon. Lots of those are the same ones who were happy to see all of the older employees laid off in 2015-2016. How does it feel now? Not so smug and arrogant anymore.
Sorry for the typo. Management will not put employees above shareholders. Fixed it.
Chevron will do whatever is necessary to maintain and increase the dividend. This includes larger layoffs, larger budget cuts and project cuts/cancellations, and larger borrowing. Don't fool yourself that this company will put BU's and employees above employees.
Chevron will assume debt to pay dividend.