Dividend is $1.07. Looks like Watson gets to keep his job another three months. Wonder if he will bless us with his presence on the lack of earnings call?
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@IwaNFXc-ukl, I'm sorry that they referred to you as a prudent, honest professional. No offense intended! ROTFLMMFAO!!!!!!
CVX stock price has been going down for 3 days in a row. As of 12 noon EST on July 27, it is below $102. Will it be below $100 in two days when the earnings call is made?
We will go up a penny in Q4 and will borrow whatever is needed to pay the dividend. I don't see the dividend being reduced until JW retires at which point the new guy will come in and reduce it a significant amount (like 50%). The Dividend Aristocrat status is valuable and management won't sacrifice it unless they must and if they are at that level they should go all in with a large decrease (like 50% or more). What GE did in 2008/2009 when they gave up dividend aristocrat status is a good model. If I were CEO, the first thing I'd do is cut the dividend 50% (or more).
I doubt JW will show up to give an accurate accounting for the state of the company he is managing. We're deeper in debt than we were last quarter, our MCP's are over budget and continue to suffer delays, and oil is on its way down again. When asked about the dividend going forward, he wouldn't be able to keep a poker face if his job depended on it.
Will chickenshit Watson have the balls to show up for this earnings call?
At some point, market will see it as a house of cards, if the dividend is maintained using borrowed funds. You need sufficient earnings to cover the dividend and some.
Chevron is referred to as a 'dividend aristocrat'. To maintain that title, the company (Chevron) must increase the dividend this year, most likely for the 4th quarter payout which will actually happen in January. Look up the definition of dividend aristocrat. The dividend will not be cut this year. Who knows about next year.
Continuation of $1.07 dividend is practically assured at July 29 earnings call. Be careful that by next one or two following this one, that the dividend will be reduced by 5 cents or 7.
The dividend will be exactly $1.07. Next question.
I take the financial advice that I get on the Chevron layoffs forum very seriously. Please don't make fun of me.
You should be very familiar already, @ivs, that Chevron management doesn't communicate anything timely or 100% truthful to their "supposed" number 1 asset, their employees. Here, you must anticipate what they will spring on you next. Tread lightly and sleep with one eye open, my friend.
@pmn, welcome to the CVX board. Now get out.
I thought we already borrowed funds in order to pay the dividend for the entire year. Layoffs, despite talks about the dividend, will occur later this year and into next.
That's fine, pmn. You hold on to your stock. Don't come back here lamenting your decision later.
I come to the Chevron layoffs forum to get investment advice. I really consider the types of people who troll and post on this site to be successful, prudent professionals who have great advice to give that is honest and not self-serving.
I agree with you, hxp. The dividend must be the priority, until it's longer the priority. Don't expect a hint about it being reduced. You'll find out after its announced and then it's too late to trade out of it. If anyone has a high exposure in CVX stock, start thinking of reducing your holdings before July 29.
Dividend is of utmost priority. It will be maintained at the current level. But not increased. It is possible that some layoffs are in the cards to squeeze some further cash through job cuts.
@voa, if you are holding CVX stock, I would get rid of it before JW starts moving his lips on July 29. Our stock is not going higher anytime soon. Chances are better that it goes down. When and if the dividend is deemed not sustainable, it will plummet. Don't get caught with your pants down.
Yes more layoffs in the pipeline.
I really don't know what to expect as all indications are that JW and the BODs will keep the dividend a priority up to selling off the last oil field owned by CVX to cover it. Unfortunately, paying dividends when there is no positive cash flow is kind of like funding the Social Security or servicing the national debt. Except unlike the USGOV, CVX can't just print more $.
Trust me, I still own CVX stock and I worry about the quarter that the dividend ISN'T maintained ... as it will be a day that CVX stock plummets.
It'll probably be 1.07 dollars...
I'm not sure what you are expecting...