Exxon Investors Seek Dividend Boost in Lieu of New Fields
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Activist investors who called a truce with Exxon Mobil Corp. this year over climate change disclosures demanded the world’s biggest energy company give cash to shareholders rather than invest in costly new oilfields.
Arjuna Capital and a group called As You Sow filed a shareholder proposal with Exxon that calls on the Irving, Texas-based company to shift cash bound for carbon-intensive oil projects into bigger dividend payouts and share buybacks.