January 31, 2018 / 10:07 PM / in 2 months

Chevron lifts quarterly dividend by 4 percent

HOUSTON (Reuters) - Chevron Corp raised its quarterly dividend on Wednesday by 4 percent to $1.12, the 31st year in a row the U.S. oil producer has raised the payout.

FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo

The dividend is payable on March 12 to shareholders of record as of Feb. 16. Chevron is due to report quarterly results on Friday.

The dividend increase was one of John Watson’s last actions as a member of Chevron’s board of directors. Watson retires on Thursday and will be replaced by his deputy, Mike Wirth.

Reporting by Ernest Scheyder; Editing by Susan Thomas

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