Exxon CEO Promises to Keep Its Dividend as a Priority

Rich Duprey, The Motley Fool
·2-min read
Exxon CEO Promises to Keep Its Dividend as a Priority

Despite ExxonMobil's (NYSE: XOM) loss of more than $20 billion in 2020, CEO Darren Woods has promised investors that the energy giant remains committed to paying out a "very strong dividend." Appearing on CNBC's Squawk Box Thursday morning, Woods said Exxon chose to cut costs and dramatically reduce its capital spending to preserve the shareholder payout. Exxon was something of an anomaly in the oil and gas industry last year, being one of the few companies that refused to suspend or even cut its dividend.