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Chevron's $1 mn-an-hour dividend may go into overdrive

Margolin noted that Chevron's existing capital budget guidance is sufficient to fund the company's portfolio of crude and gas projects

Kevin Crowley | Bloomberg 

Chevron may accelerate dividend growth over the next two years thanks to megaprojects that are already in the budget, according to one of the top-rated analysts following the oil explorer. With earnings from massive Australian liquefied natural gas investments poised to swell cash flow, Chevron probably will have the bandwidth to lift payouts for 2018 and 2019 by more than a five-year annual growth rate of about 5 per cent, Cowen & Co’s Sam Margolin wrote in a note to clients. Fresh off a breakfast meeting with Chevron executives that included CEO-In-Waiting Mike Wirth and ...

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First Published: Sun, December 03 2017. 00:38 IST