Exxon Just Raised Its Dividend By 3.9%. Its Free Cash Flow Has Surged 90% This Year. Here’s What That Gap Means

ExxonMobil (NYSE:XOM) just raised its quarterly dividend by another 3.9%, extending its growth streak to an industry-leading 44 consecutive years. That's a longer streak than 95% of companies in the S&P 500. However, it was a very modest raise compared to its free cash flow, which has surged 90% year-over-year to $39 billion over the last nine months. That gap between the modest dividend increase and surging free cash flow isn't an accident, and what it says about how Exxon runs its cash is worth a closer look. Image source: Getty Images.

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