While major integrated energy giant Exxon Mobil (XOM) has had some issues lately with trying to raise production, it’s still an earnings powerhouse. For the latest quarter, XOM still managed to earn roughly $7.87 billion in profits.
That’s more than some firms will make in an entire year.
More importantly, XOM continues to share with investors all that cash it makes from drilling and refining crude oil and natural gas. Exxon Mobil spent about $3 billion on share buybacks in the latest quarter and has authorized another $3 billion for this quarter. The company also has been returning cash back to shareholders via a dividend since 1882, and with the latest 10.5% increase announced back in April, XOM has had 31 straight years of rising payouts.
Despite many investors recent favoring of faster moving shale producers — like Range Resources (RRC) — Exxon’s steady “bond-like” nature shouldn’t be lost on long-term portfolios. There’s plenty of dividend growth ahead.