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Exxon CEO Darren Woods promises a strong dividend despite 2020 losses

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Exxon CEO Darren Woods told CNBC on Thursday the oil giant is committed to its dividend even though the company lost more than $20 billion in 2020 and as activist investors push for change.

“We’re going to continue to return cash to shareholders through a very strong dividend,” Woods said on “Squawk Box.”

He noted that 2020 was “certainly the worst environment” that Exxon has ever faced as the coronavirus brought global economies to a standstill, sapping demand for fuel. At one point, West Texas Intermediate crude futures dipped into negative territory — an event that many had previously thought impossible.

“We had to strike that balance of continuing to invest for the future, continuing…



Source cnbc.com

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