U.S. oil producer Exxon Mobil (XOM) reported on Tuesday its first annual loss as a public company due to the COVID-19 pandemic which highly impacted energy prices and it cut over $20 billion off the value of its shale gas properties in the Q4-2020.
The company reported a (first time) net annual loss of $22.44 billion for 2020, compared with a full-year profit of $14.34 billion in 2019.
A somewhat positive outlook for 2021 from the management, the company expects cash flow will cover capital expenditures and allowing the dividend to be maintained. The stock is trading up 2% at $45.8 on the news.
The current forward dividend per share of $3.48, results in a dividend yield of 7.75%. This makes Exxon Mobil one of the top dividend-yielding aristocrats. However, a dividend increase this year is required to maintain its dividend aristocrat status.
Source: Exxon Mobile press release