Dividend Champions List: Top 15

12. Chevron Corporation (NYSE:CVX)

Dividend Yield as of September 24: 4.42%

Chevron Corporation (NYSE:CVX) ranks twelfth on our dividend champions list. The Texas-based multinational energy company specializes in oil and gas. The company’s operations include oil and natural gas production (upstream), energy transportation (midstream), and chemicals and refining (downstream), with each segment performing differently depending on market conditions. For example, lower oil and gas prices can boost the downstream segment, while negatively impacting the upstream. At the same time, midstream pipelines provide steady cash flow regardless of energy market fluctuations. This diversified structure helps Chevron navigate the inherent volatility of the energy sector.

Chevron Corporation (NYSE:CVX) is a strong dividend payer. In the second quarter of 2024, the company returned $6 billion to shareholders through dividends and share repurchases. This marks the ninth consecutive quarter in which the company has returned over $5 billion to shareholders. Moreover, it has been growing its payouts for 37 consecutive years. The company offers a quarterly dividend of $1.62 per share and has a dividend yield of 4.42%, as of September 24.

Of the 912 hedge funds tracked by Insider Monkey at the end of Q2 2024, 64 funds owned stakes in Chevron Corporation (NYSE:CVX), up from 62 in the preceding quarter. The total value of these stakes is more than $22.4 billion. Warren Buffett’s Berkshire Hathaway owned the largest stake in the company in Q2.