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Chevron Hikes Dividend 6% as Oil Prices Surge Near $90 a Barrel

The Kobe Chouest platform supply vessel sits anchored next to the Chevron Jack/St. Malo deep water oil platform in the Gulf of Mexico.

The Kobe Chouest platform supply vessel sits anchored next to the Chevron Jack/St. Malo deep water oil platform in the Gulf of Mexico.

Photographer: Luke Sharrett/Bloomberg
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Chevron Corp. raised its quarterly dividend 6% as the company attempts to share the benefits of rising oil prices with shareholders. 

Chevron will pay $1.42 a share, up 8 cents from the previous payout, the California-based company said in a statement. The dividend is payable on March 10.