April 29, 2020 / 9:19 PM / a month ago

Exxon Mobil maintains dividend even as oil prices crater

FILE PHOTO: A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. REUTERS/Jessica Rinaldi

(Reuters) - Exxon Mobil Corp on Wednesday maintained its quarterly dividend, a move closely watched by investors at a time when the oil industry faces a slump in demand and prices as the coronavirus pandemic puts a break on economic activity.

The company declared a second-quarter cash dividend of $0.87 per share, payable on June 10.

Equinor last week cut its dividend by 67%, while BP maintained its quarterly dividend.

Exxon is set to report its first-quarter results on May 1.

Reporting by Shanti S Nair in Bengaluru; Editing by Maju Samuel

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