ExxonMobil's 43-Year Dividend Streak: What Investors Need to Know

Exxon Mobil Corporation XOM, a U.S. oil and gas giant, has rewarded shareholders with dividend hikes for 43 consecutive years. To reward shareholders, the company follows a strategy of sustainably increasing its dividends to ensure that it can deliver returns across any market cycle, regardless of the commodity price environment. On average, ExxonMobil’s dividend per share has grown at an impressive rate of 5.8% over the past 43 years.

In the first nine months of 2025, XOM returned more than $12.9 billion to its shareholders through dividends alone. The company has also repurchased $14.9 billion worth of common stock. XOM’s dividend progression remains notable, rising from 95 cents per share in the fourth quarter of 2023 to 99 cents in 2024 and reaching $1.03 per share in 2025. This steady rise highlights the company’s commitment to rewarding shareholders and increasing payouts across various commodity price scenarios.

ExxonMobil’s upstream business, which accounts for a major share of its earnings, is poised to deliver sustainable cash flows in the long run through production growth from its advantaged assets and structural cost reductions. The company prioritizes allocating its capital toward competitive, high-return projects and maintaining a strong balance sheet, which provides operational flexibility and the ability to return shareholder value through consistent share buybacks and a growing dividend.

Other Energy Players With Strong Dividend Payouts

Chevron Corporation CVX and BP plc BP have an integrated business model with a robust upstream presence. Notably, both integrated majors maintain peer-leading dividend yields. Currently, CVX has a dividend yield of 4.49%, while BP’s yield is 5.31%.

XOM’s Price Performance, Valuation & Estimates

Shares of ExxonMobil have risen 3.1% over the past year compared with the 6.5% increase of the composite stocks belonging to the industry.

From a valuation standpoint, XOM trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 7.61X. This is above the broader industry average of 4.88X.

The Zacks Consensus Estimate for XOM’s 2025 earnings has not seen any revisions over the past seven days.

XOM, CVX and BP currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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