Dividend Coverage: This Oil & Gas Company has a Dividend Yield of 3.68%; Will Trade Ex-Dividend on November 10, 2017

LONDON, UK / ACCESSWIRE / November 9, 2017 / Pro-Trader Daily takes a closer look at Exxon Mobil Corp. (NYSE: XOM) as the Company’s stock will begin trading ex-dividend on November 10, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 09, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Today, PRO-TD covers ex-dividend news on XOM. Get our free coverage by signing up at:

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Dividend Declared

On October 25, 2017, Exxon’s Board of Directors declared a cash dividend of $0.77 per share on the Common Stock, payable on December 11, 2017, to shareholders of record of Common Stock at the close of business on November 13, 2017.

Exxon’s indicated dividend represents a yield of 3.68%, which is substantially above the average dividend yield of 3.68% for the Basic Materials sector. Through its dividends, the corporation has shared its success with its shareholders for more than 100 years and has increased its annual dividend payment to shareholders for 35 consecutive years.

Dividend Insights

Exxon has a dividend payout ratio of 85.1%, which indicates that the Company distributes approximately $0.85 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Exxon is forecasted to report earnings of $3.97 for the next year, which is substantially above the Company’s annualized dividend of $3.08 per share.

For the three months ended September 30, 2017, Exxon reported that cash flow from operations and asset sales increased 33% to $8.4 billion, including proceeds associated with asset sales of $854 million. For the nine months of 2017, the Company’s cash flow from operations and asset sales was $24.4 billion, including proceeds associated with asset sales of $1.7 billion. As of September 30, 2017, Exxon’s cash and cash equivalent totaled $4.3 billion compared to cash of $3.7 billion as the end of Q4 2016. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Exxon

On November 01, 2017, ExxonMobil and Renewable Energy Group (REG) announced that by utilizing REG’s patented fermentation technology, the companies’ joint research program has demonstrated the ability to convert sugars from a variety of non-edible biomass sources into biodiesel.

During their initial research, the companies successfully validated the feasibility of the REG Life Sciences fermentation technology across various cellulosic sugar compositions produced with a variety of methods from various non-edible biomass sources.

In January 2016, ExxonMobil signed an agreement with REG to study the production of biodiesel through fermentation of renewable cellulosic sugars from sources such as agricultural waste. The companies have agreed to extend the research program based on their positive findings and are excited to continue to jointly explore the technology’s potential for scalability.

Since 2000, ExxonMobil has spent about $8 billion to develop and deploy lower-emission energy solutions across its operations.

Stock Performance

On Wednesday, November 08, 2017, the stock closed the trading session at $83.47, slightly falling 0.13% from its previous closing price of $83.58. A total volume of 8.68 million shares have exchanged hands. Exxon Mobil’s stock price advanced 1.47% in the last one month, 5.70% in the past three months, and 1.04% in the previous six months. The stock is trading at a PE ratio of 27.22 and has a dividend yield of 3.69%. The stock currently has a market cap of $355.16 billion.

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