Latest News

Chevron announces $75 billion stock buyback, dividend boost

0
Chevron last month reported its second-highest quarterly profit ever.
Justin Sullivan | Getty Images News | Getty Images

Energy giant Chevron

Shares of Chevron were up 3% in extended trading.

The buyback program will become effective on April 1, with no set expiration date, the company said in a press release.

Chevron’s market cap was roughly $350 billion as on Wednesday’s market close, meaning that the buyback would represent more than 20% of the company’s stock at current prices.

This buyback plan follows a $25 billion plan enacted in 2019. The old plan will be terminated at the end of March.

This is breaking news. Please check back for updates.

Levi Strauss beats estimates, offers upbeat guidance for fiscal year

Previous article

IBM posts biggest annual sales increase in more than a decade, announces layoffs

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News