10 Companies that Just Raised their Dividends

5. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

An American energy company, Chevron Corporation (NYSE:CVX) ranks fifth on our list of stocks that raised their dividends. By prioritizing LNG initiatives, the company enhances its capacity to secure long-term contracts, reinforcing a stable revenue stream. In addition, its new energies segment is contributing to revenue growth, generating over $600 million from bio-based diesel sales. The stock has surged by over 3% since the start of 2025.

In the fourth quarter of 2024, Chevron Corporation (NYSE:CVX) reported earnings of $2.06 per share, falling short of analyst expectations due to weaker margins, which resulted in its refining segment posting a loss for the first time since 2020. However, quarterly revenue climbed to $52.23 billion, reflecting a 10.7% increase from the previous year and exceeding Wall Street estimates by more than $3.8 billion. This growth was fueled by a 7% rise in global production and a 19% surge in US output, both reaching record levels for the year. Additionally, the company generated nearly $8 billion from asset sales and maintained a strong financial position, ending the year with a net debt ratio of 10%.

Chevron Corporation (NYSE:CVX) demonstrated financial strength in FY24, generating $31.5 billion in operating cash flow and $15 billion in free cash flow. It returned nearly $12 billion to shareholders through dividends and repurchased over $15 billion in shares, reaffirming its long-standing commitment to share buybacks—a strategy it has employed in 17 of the past 21 years.

On January 31, Chevron Corporation (NYSE:CVX) increased its quarterly dividend by 4.9% to $1.71 per share. Through this increase, the company stretched its dividend growth streak to 38 years. The stock has a dividend yield of 4.52%, as of March 6.