Exxon Mobil Corp is preparing deep spending and job cuts to preserve an 8 percent shareholder dividend.
The latest cost cuts are needed to preserve the company's nearly $15bn annual payout to shareholders in the face of rising losses, the sources said. Exxon will not generate enough cash from production operations to cover this year's dividend, analysts have said. It borrowed $18bn earlier this year to bolster cash.
The latest cost cuts are needed to preserve the company's nearly $15bn annual payout to shareholders in the face of rising losses, the sources said. Exxon will not generate enough cash from production operations to cover this year's dividend, analysts have said. It borrowed $18bn earlier this year to bolster cash.
Woods has turned to spending and staff cuts, and a business restructuring to salvage the payout. The dividend, which yields about 8 percent at Wednesday's closing price of $44.03 a share, is sacrosanct at Exxon, which until this year raised the payout annually for 37 years.
https://www.aljazeera.com/ajimpact/exxon-prepares-deep-cuts-save-shareholder-payouts-sources-200730184220382.html
The latest cost cuts are needed to preserve the company's nearly $15bn annual payout to shareholders in the face of rising losses, the sources said. Exxon will not generate enough cash from production operations to cover this year's dividend, analysts have said. It borrowed $18bn earlier this year to bolster cash.
The latest cost cuts are needed to preserve the company's nearly $15bn annual payout to shareholders in the face of rising losses, the sources said. Exxon will not generate enough cash from production operations to cover this year's dividend, analysts have said. It borrowed $18bn earlier this year to bolster cash.
Woods has turned to spending and staff cuts, and a business restructuring to salvage the payout. The dividend, which yields about 8 percent at Wednesday's closing price of $44.03 a share, is sacrosanct at Exxon, which until this year raised the payout annually for 37 years.
https://www.aljazeera.com/ajimpact/exxon-prepares-deep-cuts-save-shareholder-payouts-sources-200730184220382.html
No comments:
Post a Comment