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Exxon Mobil Boosts Dividend by 5%

For the 27th year in a row, Exxon Mobil is increasing its quarterly dividend.

The oil giant on Wednesday announced a 5 percent boost in the payout to shareholders.

Exxon's move is contrary to recent dividend reductions and eliminations by companies of all kinds as they try to preserve capital.

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CNBC.com

It comes just one day before Exxon is scheduled to announce first-quarter results, which are expected tomorrow morning.

Exxon Mobil has one of the strongest balance sheets among the major oil companies. Analysts believe it is well-positioned to weather recent volatility in commodity prices.

Shares of Exxon Mobil were up more than 2 percent in Wednesday afternoon trading.