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Data

Big Oil's Wartime Dividend Bump to Wall Street

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Amid high gas prices and war in recent month, the US's largest oil and gas companies have seen profits soar. These 20 companies, who received billions in taxpayer dollars during the coronavirus crisis, are passing newfound profits off to Wall Street in the form of massive dividend payouts. Eighteen of the companies reviewed in the report linked below increased their dividends in the past year. Eleven of the companies increased their payouts by at least 100%, some from zero, since the first quarter of 2021. On top of record quarterly dividend payouts, five of the company's past further profits onto shareholders in the form of variable dividends.

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Source: Company 10-K Filings

BailoutWatch, Public Citizen and Friends of the Earth reviewed filings and public statements by the 20 biggest US-headquartered oil and gas companies, the analysis uncovered an industry-wide trend — accelerating in the leadup and aftermath of the invasion — to expand share repurchase programs and to boost dividends.

More than half the companies boosted their dividends, often extravagantly, in January and February. Of the 11 companies raising their dividends, nine were increases of more than 15% and four were increases of more than 40%. Eleven companies have increased their payouts by at least 100%, some from zero, since the first quarter of 2021.