Dividend Aristocrat Exxon Mobil (XOM) outperformed expectations over Q1-2021, driven by rising oil prices and cutting costs. The American energy group reported Q1-figures on Friday.
Net income was $2.73 billion, or 64 cents per share, in the first quarter, compared with a loss of $610 million, or 14 cents per share, a year earlier.
“The strong first-quarter results reflect the benefits of higher commodity prices and our focus on structural cost reductions,” said CEO Darren Woods in a statement.
The forward annual dividend is $3.48 which gives a dividend yield of 6% at the moment of writing. 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.
Year-to-date the stock price is up more than 41%.
