Chevron (CVX)

Chevron has an incredibly strong track record, having paid consecutive quarterly dividends to its shareholders without interruption since 1933. This makes it one of the longest-running dividend payers in the modern stock market. The company has also steadily increased its annual dividend payout for over three decades.

Yes, Chevron is officially recognized as an S&P 500 Dividend Aristocrat because it has increased its dividend payout for more than 25 consecutive years. It achieved this status by consistently growing its distributions even through volatile oil price cycles. This makes it a core holding for many dividend growth investors.

Chevron is an integrated energy company, meaning it operates across the entire supply chain, from upstream exploration and production to downstream refining and marketing. They manufacture fuels, lubricants, and petrochemicals sold at gas stations globally. Recently, they have also begun investing heavily in renewable diesel and hydrogen production.

During the historic oil price crash of 2020, Chevron took a massive hit to its earnings but notably refused to cut its dividend. Unlike some competitors who slashed their payouts, Chevron leveraged its strong balance sheet to maintain shareholder distributions. They did, however, halt stock buybacks to preserve cash.