Chevron Crowned Top Dividend Stock in the Dow Jones
Chevron Corporation (Symbol: CVX) has earned the title of the “Top Dividend Stock of the Dow,” as highlighted in the latest “DividendRank” report by Dividend Channel. The report emphasized that CVX shares stand out in the Dow Jones Industrial Average due to their appealing valuation metrics and robust profitability. Currently, CVX shares are priced at $155.29, with a price-to-book ratio of 1.8 and an annual dividend yield of 4.2%. In contrast, the average dividend-paying stock within the Dow offers a yield of 2.3% and has a price-to-book ratio of 9.2. The report also points to Chevron’s solid history of quarterly dividends and positive long-term growth indicators in key financial areas.
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The report notes, ”Dividend investors looking for value generally prefer analyzing the most profitable companies that are trading at attractive valuations. Our proprietary DividendRank formula helps identify these top companies by ranking our coverage universe based on profitability and valuation criteria, providing investors with stocks worth further research.”
The Dow Jones Industrial Average, established in 1896, remains one of the most followed indices for large, publicly traded companies in the U.S. For more details, including a popular ETF that tracks the Dow and a list of all 30 components and their weights, visit ETFChannel.com.
Chevron currently pays an annualized dividend of $6.52 per share, disbursed quarterly, with the next ex-dividend date approaching on 11/18/2024. The report highlighted Chevron’s long-term dividend history, serving as a crucial factor for investors to assess the sustainability of recent dividends.
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