Bloomberg Market Specialists Zhuo Zhang and Zef Lokhandwalla contributed to this article. The original version appeared first on the Bloomberg Terminal.
Bloomberg Market Specialists Zhuo Zhang and Zef Lokhandwalla contributed to this article. The original version appeared first on the Bloomberg Terminal. Healthy oil company dividend yields may support their performance relative to other equities, even as Brent crude drops below $100 per barrel.
The average of Bloomberg World Energy Index members projected 12-month dividend yield is 3.7%, higher than the 2.9% for the broader Bloomberg World Index, according to Bloomberg Dividend Forecasts. Exxon Mobil Corp., set to declare its dividend on April 27, has a current dividend yield of 4.2% and looks set to increase payouts and buybacks.
Exxons announcement that first-quarter results may have reached almost $11 billion augurs booming profits across the oil industry even as trade sanctions, shipping disruptions and surging demand strain supply lines. Bloombergs dividend forecast puts the oil giants next quarterly payout at $0.92 per share, to be declared on April 27 and payable on June 10. The forecasts show an annual increase, reaching $1.02 in April 2024.
