Exxon Mobil raises dividend by a penny, to boost the implied yield to nearly 5.5%

Exxon Mobil Corp. XOM, -2.36% said Wednesday it volition rise its quarterly dividend by a penny, to 88 cents a stock from 87 cents. The caller dividend volition beryllium payable Dec. 10 to shareholders of grounds connected Nov. 12. The banal slumped 2.5% successful day trading, amid a wide slump successful vigor stocks arsenic crude lipid futures CL00, -2.91% shed 2.3%. Based connected existent banal prices, Exxon Mobil's caller yearly dividend complaint implies a dividend output of 5.48%, which compares with the output for the SPDR Energy Select Sector ETF XLE, -2.70% of 3.75% and the implied output for the S&P 500 SPX, -0.43% of 1.32%. Exxon Mobil's caller implied output would marque it the eighth-highest yielding banal successful the S&P 500. There had been immoderate question arsenic to whether Exxon Mobil would rise its dividend oregon not this year, with Chief Executive Darren Woods assuring investors successful July that the lipid elephantine feels a "very beardown commitment" toward a reliable and increasing dividend.