25 Best Dividend Stocks to Buy According to Billionaires

18. Chevron Corporation (NYSE:CVX)

Number of Billionaire Investors: 14

Dividend Yield as of March 3: 4.42%

Chevron Corporation (NYSE:CVX) ranks eighteenth on our list of the best dividend stocks according to billionaires. The American energy company reported earnings of $2.06 per share, falling short of analyst expectations due to weaker margins, which led to its refining segment recording a loss for the first time since 2020. However, quarterly revenue reached $52.23 billion, marking a 10.7% year-over-year increase and surpassing Wall Street estimates by over $3.8 billion. This growth was driven by a 7% increase in global production and a 19% rise in US output, both reaching record highs for the year. In addition, the company generated nearly $8 billion from asset sales and maintained a solid financial position, closing the year with a net debt ratio of 10%.

Chevron Corporation (NYSE:CVX) maintained a strong financial position in FY24, generating $31.5 billion in operating cash flow and $15 billion in free cash flow. The company returned nearly $12 billion to shareholders through dividends and repurchased over $15 billion in shares, reinforcing its commitment to share buybacks—a strategy it has followed in 17 of the past 21 years. Its quarterly dividend comes in at $1.71 per share for a dividend yield of 4.42%, as of March 3. Overall, the company maintains a 38-year streak of consistent dividend growth.