These 3 Top Oil Dividend Stocks Just Gave Their Investors Another Raise
The oil industry can be a good place to collect some dividend income. Many oil companies produce a lot of cash, giving them money to drill more wells and return cash to shareholders via dividends and stock buybacks. Several oil stocks recently raised their dividends. Three notable ones were Devon Energy (NYSE: DVN), Occidental Petroleum (NYSE: OXY), and Chevron (NYSE: CVX). Here's a look at their dividends and which is the best oil dividend stock to buy.Devon Energy is hiking its quarterly fixed dividend rate by 9% to $0.24 per share ($0.96 annually). That gives the oil stock a 2.5% dividend yield at its recent price of around $38, more than double the S&P 500's dividend yield of 1.2%. This raise continues the steady growth in the fixed portion of the company's dividend since it reset the payment in 2016 to a quarterly rate of $0.06 per share following a significant slump in oil prices. Devon's dividend is now back to its prior peak. Continue reading
The oil industry can be a good place to collect some dividend income. Many oil companies produce a lot of cash, giving them money to drill more wells and return cash to shareholders via dividends and stock buybacks.
Several oil stocks recently raised their dividends. Three notable ones were Devon Energy (NYSE: DVN), Occidental Petroleum (NYSE: OXY), and Chevron (NYSE: CVX). Here's a look at their dividends and which is the best oil dividend stock to buy.
Devon Energy is hiking its quarterly fixed dividend rate by 9% to $0.24 per share ($0.96 annually). That gives the oil stock a 2.5% dividend yield at its recent price of around $38, more than double the S&P 500's dividend yield of 1.2%. This raise continues the steady growth in the fixed portion of the company's dividend since it reset the payment in 2016 to a quarterly rate of $0.06 per share following a significant slump in oil prices. Devon's dividend is now back to its prior peak.
