CVX Dividend Calculator
Dividend growth rate (CAGR)
| Year | Yield | Div / share | Annual income | Yield on cost | Cumulative income | Portfolio value | Shares |
|---|---|---|---|---|---|---|---|
| 1 | 3.4% | $6.98 | $374.00 | 3.0% | $374.00 | $14,020 | 67.67 |
| 2 | 3.2% | $7.44 | $503.18 | 3.4% | $877.18 | $18,618 | 80.95 |
| 3 | 3.1% | $7.92 | $641.24 | 3.7% | $1,518 | $23,868 | 93.48 |
| 4 | 3.0% | $8.44 | $788.88 | 4.0% | $2,307 | $29,851 | 105.32 |
| 5 | 2.9% | $8.99 | $946.82 | 4.3% | $3,254 | $36,659 | 116.51 |
| 6 | 2.7% | $9.58 | $1,116 | 4.6% | $4,370 | $44,394 | 127.10 |
| 7 | 2.6% | $10.20 | $1,297 | 4.8% | $5,667 | $53,172 | 137.13 |
| 8 | 2.5% | $10.87 | $1,490 | 5.1% | $7,157 | $63,119 | 146.64 |
| 9 | 2.4% | $11.58 | $1,698 | 5.4% | $8,855 | $74,381 | 155.67 |
| 10 | 2.3% | $12.33 | $1,920 | 5.6% | $10,775 | $87,115 | 164.24 |
Year 1-10 dividend income (preview)
Based on a $10,000 initial investment with $200.00 monthly contributions, DRIP on.
Historical dividends per share
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2026-05-19 | $1.78 | 3.7% | 3.8% | $186.64 |
| 2026-02-17 | $1.78 | 3.8% | 3.9% | $180.55 |
| 2025-11-18 | $1.71 | 4.5% | 4.5% | $153.62 |
| 2025-08-19 | $1.71 | 4.4% | 4.5% | $152.00 |
| 2025-05-19 | $1.71 | 4.8% | 4.9% | $138.49 |
| 2025-02-14 | $1.71 | 4.2% | 4.4% | $155.34 |
| 2024-11-18 | $1.63 | 4.1% | 4.1% | $160.76 |
| 2024-08-19 | $1.63 | 4.4% | 4.4% | $146.83 |
| 2024-05-16 | $1.63 | 4.8% | 4.0% | $161.09 |
| 2024-02-15 | $1.63 | 4.0% | 4.2% | $154.46 |
| 2023-11-16 | $1.51 | 5.3% | 4.3% | $141.77 |
| 2023-08-17 | $1.51 | 4.6% | 3.8% | $159.75 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of last 12 months of payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About CVX
Chevron Corporation — ticker CVX — is one of the two US integrated supermajor oil companies and a long-running Dividend Aristocrat with a streak of more than thirty-seven consecutive years of annual dividend increases. The streak places Chevron firmly in the S&P 500 Dividend Aristocrats index — the group of companies that have raised their dividend annually for at least twenty-five years — and within the smaller subset of energy-sector names that have managed to do so. The streak is the central piece of the Chevron dividend story, because it has been maintained through every major oil-price crash of the modern era, including the 2014–2016 collapse from over one hundred dollars per barrel to under thirty, and the 2020 collapse that briefly turned WTI crude futures negative.
Chevron operates in the Energy sector as a fully integrated oil and gas company, meaning it owns assets and earns revenue across the entire hydrocarbon value chain. Upstream, the company explores for and produces crude oil and natural gas at fields in the Permian Basin in west Texas, the Gulf of Mexico, Kazakhstan's Tengiz field, Australian LNG projects, and a number of smaller international positions. Downstream, it refines crude into gasoline, diesel, and jet fuel at several US and international refineries and markets the products through the Chevron and Texaco branded networks. A chemicals joint venture with Phillips 66 sits alongside the core business. The integrated structure is the historical answer to oil-price cyclicality: when upstream margins compress because the crude price falls, downstream refining margins often expand because crude becomes a cheaper input, partially smoothing total earnings across the cycle.
The dividend mandate has been embedded in Chevron's capital-allocation hierarchy for decades, and management has been explicit about prioritization. The company's stated capital-return order is: maintain the dividend first, fund disciplined capex second, return excess cash via share buybacks third. That ordering survived the 2014–2016 downturn, when Chevron continued raising the dividend even as oil prices crashed and the company funded part of the distribution with balance-sheet capacity rather than current-period free cash flow. It survived again in 2020, when COVID-era demand collapse and the brief negative futures print compressed earnings sharply; Chevron held and raised the dividend rather than cut. Both episodes are the moat for the streak — they demonstrate that the dividend is treated as a contractual-style commitment rather than a discretionary outflow, and they distinguish Chevron from oil companies that cut during those windows.
Expense ratio is not applicable to individual stocks — the figure you'll see in the calculator above is zero, since there is no fund wrapper between you and the underlying shares. The dividend has never been cut in modern history through any of the price collapses described above, which is the relevant test for an Aristocrat in a cyclical sector.
How CVX pays dividends
Chevron pays cash dividends quarterly, on a March–June–September–December cadence. The board declares the per-share amount each quarter; the ex-dividend date typically falls in the second or third week of the second month of the quarter, and the pay date falls roughly two weeks after the ex-date. Holders who own shares as of the close on the day before the ex-date receive the dividend; holders who buy on or after the ex-date wait for the next quarterly payment. On the ex-date the share price drops by approximately the distribution amount on the open, reflecting the fact that the company has paid the cash out of its balance sheet.
Holders who DRIP through their broker receive additional shares purchased at the prevailing market price around the pay date. Most major brokers offer fractional-share DRIP for Chevron, so the full cash distribution is reinvested even when the per-share amount divided by the share price doesn't produce a whole number. The mechanics are identical to any other quarterly US dividend stock — there is no managed-distribution policy, no covered-call overlay, and the cash that funds the dividend comes from operating free cash flow generated by upstream production, downstream refining, and the chemicals business.
Recent growth pattern: Chevron has typically raised the quarterly per-share amount once per year, with the new rate taking effect on the dividend payment following the spring announcement. The size of the annual hike has historically run in the mid single digits, with year-to-year variability tied to the oil-price environment — larger hikes during stronger windows and smaller protective hikes during downturns. Because the increase happens once per year rather than spread over four quarters, the year-over-year dividend growth rate compounds cleanly. The calculator on this page uses a recent dividend growth rate to project the income line forward; you can override this with a custom growth rate if you want to model a more conservative or more optimistic path.
Chevron's dividends are qualified for the long-term capital-gains rate in taxable accounts, given the standard sixty-day holding-period rule. Most buy-and-hold investors clear this threshold easily. In tax-advantaged accounts the qualified-dividend treatment is moot because no current-year tax applies; the structural advantage of a long-running dividend grower in a cyclical sector is the compounding of share count via DRIP across the full cycle, including reinvestment at lower prices during downturns.
Who CVX suits
Chevron suits investors who want energy-sector exposure with a long-streak dividend commitment, a yield typically in the four-to-five-percent range, and tolerance for the underlying cyclicality of oil prices. The yield sits well above the broader S&P 500 average and reflects both the maturity of the integrated oil business and the market's discount for cyclical-sector cash flows. The trade-off is the canonical Aristocrat-in-a-cyclical-sector pattern: lower headline yield and slower growth than a high-yield non-cyclical name, but a streak that has survived two extreme oil-price crashes is structural evidence that the dividend itself is unusually resilient inside a sector that has historically seen many cuts.
The comparison readers most often want is CVX versus XOM — Chevron and Exxon Mobil are the two US integrated supermajors, both Dividend Aristocrats with multi-decade streaks (Exxon longer, at forty-plus years), and the most natural peer pair in the entire US dividend universe. The two yield in similar territory and respond to similar oil-price inputs. The structural differences are size — Exxon is the larger company with broader downstream and chemicals exposure — and capital-allocation tone, with Chevron historically running a slightly more conservative capex profile and Exxon historically taking more aggressive growth bets. Many income-focused portfolios hold one or the other rather than both, since the correlation between the two is high; some hold both for diversification within energy-sector exposure.
In taxable accounts, Chevron's dividends are qualified for the long-term capital-gains rate. In tax-advantaged accounts the treatment is moot. The structural case for CVX in a long-horizon dividend portfolio is the combination of streak length, integrated business model that partially smooths cycle volatility, and a yield that is higher than most non-cyclical Aristocrats — features that together make Chevron one of the small number of dividend-streak names available in a sector that has historically been hostile to long streaks.
As with any single-stock position, this content is educational only; it is not a recommendation to buy, sell, or hold CVX, and individual circumstances vary. Energy-sector-specific risks — including oil-price cyclicality, energy-transition policy pressure, and exposure to international upstream projects — should be weighed against the dividend continuity record.
Hypothetical scenarios
Scenario 1: $10,000 invested in Chevron at the start of 2005
Consider a hypothetical purchase of $10,000 of Chevron stock at the start of 2005. At that point the dividend streak was already nearly two decades long, the company had just completed the Texaco acquisition that consolidated its branded retail network, and oil prices were in the middle of the multi-year run that would eventually carry crude to over one hundred forty dollars per barrel by mid-2008. The 2005 entry price implied a per-share figure in the mid-fifties, and the initial $10,000 would have purchased roughly one hundred eighty shares.
Holding from 2005 through to the present, with quarterly dividends reinvested via DRIP, the position would have lived through two of the most severe energy-sector dislocations on record: the 2014–2016 oil price collapse from over one hundred dollars per barrel to under thirty, and the 2020 COVID-era demand crash that briefly turned WTI futures negative. Chevron held and raised its dividend through both windows. Three forces compound across the full window: the per-share dividend grew each year as the company maintained the streak through both crashes; the share count grew as DRIP reinvested each quarterly distribution at the prevailing price (with reinvestment at depressed prices during the downturns adding meaningfully to share count); and the share price climbed broadly across the multi-decade window with substantial drawdowns at the cycle troughs.
The illustrative outcome is not a precise dollar figure. It depends on the exact reinvestment prices across the full cycle, dividend taxes paid along the way in a taxable account, and the specific entry and exit timing. The structural point is that the DRIP mechanic interacts particularly cleanly with Chevron's cyclical share-price path — reinvestment at low prices during the 2015–2016 and 2020 troughs added share count that then participated in the subsequent recoveries, amplifying the income line into the recovery windows. The annual dividend income at the end of the period is meaningfully larger than the year-one income, and the streak's survival through two extreme cycles is the central piece of the structural illustration. CVX is offered as a structural illustration, not a forecast.
Scenario 2: $50,000 today plus $500/month for 20 years
Consider a hypothetical accumulation strategy in Chevron: $50,000 starting capital, plus $500 per month added on a regular cadence for 20 years. The calculator on this page can model this exactly — set Initial investment to $50,000, Extra contribution to $500, Contribution frequency to Monthly, time horizon to 20 years, and leave DRIP on.
The mechanics: each month, the new $500 buys additional shares at the current price, which adds to the share count and therefore to next quarter's dividend. Each quarter, the dividend received from all accumulated shares is reinvested, adding more shares at the prevailing price. Because Chevron's entry yield is higher than the broader-market average — typically in the four-to-five-percent range — the DRIP component contributes a relatively larger share of share-count growth than the same DCA setup would for a lower-yield dividend grower. Over 20 years this dual-track accumulation — DCA contributions plus dividend reinvestment — produces a position whose annual cash distribution is substantial, even before considering any potential price appreciation.
What's worth focusing on is the annual dividend column in the projection table. For a cyclical-sector stock like Chevron, the DCA pattern has a structural side benefit: monthly contributions made during oil-price downturns buy more shares per dollar than the same contributions made during peaks, mechanically tilting the average entry price downward across the holding period. The first few years are slow because the base of dividend-generating shares is small; by year ten the annual dividend has grown significantly above year one as both the per-share amount and the share count have climbed; by year twenty the income line has compounded substantially. These scenarios assume the historical pattern of mid-single-digit dividend growth continues at a similar rate. Real outcomes depend on Chevron's future capital allocation, the path of the global oil market and energy transition, tax treatment in your specific account, and the broader path of US equity markets. Educational only; not a forecast.
Sources & methodology
Dividend history and price data come from Polygon.io's reference and aggregates endpoints. Forward yield is computed as the sum of the most recent four cash distributions divided by the previous-close share price. The dividend growth rate shown on this page is the compound annual growth rate of total annual distributions across the available history in this snapshot.
Last updated: 2026-05-15.
Information here is for educational purposes only and does not constitute investment advice. Past dividend history does not guarantee future payments. Verify all figures with the issuer or a registered financial advisor before making investment decisions.