Exxon Freezes Dividend for First Time in 13 Years Amid Crash
- Crude titan preparing to disclose first-quarter results Friday
- Supermajor oil explorers hammered by cratering energy markets
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Exxon Mobil Corp. froze its dividend for the first time in 13 years as the lowest oil prices in a generation strain the company’s financial underpinnings.
Exxon will pay 87 cents a share in June, unchanged from March’s outlay, the Irving, Texas-based company said in a statement on Wednesday. Before now, Exxon had an uninterrupted streak of April increases going back to 2007.