Chevron's $1 Million-an-Hour Dividend May Go Into Overdrive
- Imminent cash-flow windfall seen from gigantic projects
- Cowen & Co. analyst’s view informed by executive breakfast
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Chevron Corp. may accelerate dividend growth over the next two years thanks to megaprojects that are already in the budget, according to one of the top-rated analysts following the oil explorer.
With earnings from massive Australian liquefied natural gas investments poised to swell cash flow, Chevron probably will have the bandwidth to lift payouts for 2018 and 2019 by more than a five-year annual growth rate of about 5 percent, Cowen & Co.’s Sam Margolin wrote in a note to clients.