Exxon Mobil raises dividend 11 pct, to 63 cents

AP News
Posted: Apr 24, 2013 4:42 PM

IRVING, Texas (AP) — Exxon Mobil Corp., the world's most valuable company, says it's raising its dividend by 6 cents, or 11 percent, to 63 cents.

A long slide in Apple Inc.'s share price has allowed Exxon to retake the top spot, as measured by market capitalization. It was worth about $399 billion at Wednesday's close.

The Irving, Texas, company said Wednesday that it has increased its annual dividend for 31 straight years. The next quarterly payment will be June 10 to shareholders as of May 13.

Exxon reports first-quarter results on Thursday. Analysts expect a drop in profit because of lower production.