Exxon Rebuts Biden’s Attack on Profits, Citing Dividend Payout
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Exxon Mobil Corp. responded directly to US President Joe Biden’s criticism of record energy-industry profits by pointing to the company’s much-vaunted dividend, which it increased on Friday by a larger-than-expected amount.
“There has been discussion in the U.S. about our industry returning some of our profits directly to the American people,” Exxon Chief Executive Officer Darren Woods said in prepared remarks ahead of the company’s earnings conference call. “That’s exactly what we’re doing in the form of our quarterly dividend.”