Chevron raises dividend for 38 years, expects 10%+ growth through 2030 amid high oil prices.

Chevron has increased its dividend for 38 consecutive years and generated over $20 billion in free cash flow last year. The company remains profitable even at $50 per barrel of oil, while current prices are around $90 and expected to stay high through 2026. Management forecasts a compound annual growth rate of over 10% in cash flow and earnings through 2030 if oil prices hold at $70, with $10-20 billion returned to shareholders. This positions Chevron as a strong long-term investment in the energy sector amid favorable market conditions.