Chevron increases dividend by 5%, its 38th consecutive annual increase

Chevron Corporation (NYSE: CVX) reported earnings of $3.2 billion ($1.84 per share – diluted) for fourth quarter 2024, compared with $2.3 billion ($1.22 per share – diluted) in fourth quarter 2023. Included in the quarter were severance charges of $715 million and impairment charges of $400 million. Foreign currency effects increased earnings by $722 million. Adjusted earnings of $3.6 billion ($2.06 per share – diluted) in fourth quarter 2024 compared to adjusted earnings of $6.5 billion ($3.45 per share – diluted) in fourth quarter 2023. See Attachment 4 for a reconciliation of adjusted earnings.

The company’s Board of Directors declared a 5 percent increase in the quarterly dividend to one dollar and seventy-one cents ($1.71) per share, payable March 10, 2025, to all holders of common stock as shown on the transfer records of the corporation at the close of business on February 14, 2025.
Chevron