Chevron Corp. outlined a sustainable cash flow plan at its Investor Day, suggesting a substantial dividend hike. The stock price closed at $149.98 on Nov. 21, near recent lows. With an annual dividend of $6.84 per share, the company is expected to raise its dividend by at least 5% in January. Investors can anticipate a potential 14% price appreciation and a 4.8% dividend yield. By utilizing shorting OTM puts and buying ITM calls, investors can enhance returns and benefit from Chevron’s growth prospects. The company’s strong dividend history and share repurchase plans indicate continued shareholder value.

Read more at Barchart: Chevron’s Latest 5-Yr Plan Implies a Major Dividend Hike