Exxon Keeps S&P 500’s Third-Highest Dividend Despite Oil Rout
- Low crude prices mean Exxon is funding the payout with debt
- Texas oil giant’s dividend yield is now more than 10%
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Exxon Mobil Corp. is maintaining the third-highest dividend in the S&P 500 Index, underscoring its historic commitment to the payout despite this year’s virus-driven oil crash.
Investors will be paid 87 cents a share for the current quarter, matching the level of the last six periods, the Irving, Texas-based company said in a statement. The oil giant trails only Microsoft Corp. and AT&T Inc. among S&P 500 companies in payouts to shareholders over the past 12 months, according to Bloomberg data.