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Chevron Approves $75 Billion Share Buyback Program

Chevron Corp CVX.N on Wednesday disclosed its most ambitious program to distribute cash to shareholders, tripling the budget for buybacks, after posting record quarterly profits last year.

The U.S. oil producer raised its quarterly dividend by 6% to $1.51 per share and approved a $75 billion share buyback program.

The program has no expiration deadline and replaces the board’s previous repurchase authorization of $25 billion from January 2019 until March 31 this year.

Read the source article at nasdaq.com

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