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.


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.