8 Cash-Rich Dividend Stocks To Invest In Now

1. Chevron Corporation (NYSE:CVX)

Operating Cash Flow (TTM): $35 billion

Chevron Corporation (NYSE:CVX) is an American energy company that specializes in oil and gas. The company has evolved into one of the world’s top energy companies. Each year, it invests billions to expand its operations, using both organic growth and acquisitions to drive expansion. These investments enhance profitability and cash flow. In the third quarter of 2024, the company generated $9.7 billion in operating cash flow, up from $6.3 billion in the previous quarter. It also returned $7.7 billion to shareholders through dividends and share repurchases during the quarter. CVX is one of the best cash-rich stocks that pay dividends.

Chevron Corporation (NYSE:CVX) posted strong earnings in the third quarter of 2024, with revenues totaling $50.67 billion, exceeding analysts’ expectations by $1.63 billion. The company also saw a 7% increase in global production compared to the previous year, reaching nearly 3.4 million barrels of oil equivalent per day (BOE/d). This growth was driven by record production in the Permian Basin and the acquisition of PDC Energy.

On November 1, Chevron Corporation (NYSE:CVX) declared a quarterly dividend of $1.63 per share, which fell in line with its previous dividend. Overall, the company has been rewarding shareholders with growing dividends for the past 37 consecutive years. As of December 16, the stock offers a dividend yield of 4.37%.

As of the end of Q3 2024, Chevron Corporation (NYSE:CVX) was included in 63 hedge fund portfolios, slightly down from 64 in the previous quarter, according to Insider Monkey’s database. The total value of the stakes held by these hedge funds exceeds $21 billion.

Overall, Chevron Corporation (NYSE:CVX) ranks first on our list of cash-rich stocks. While we acknowledge the potential for CVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CVX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. 

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