Exxon Restructures Global Operations With Fears Over Potential Dividend Downsizing
The shortfall was based on a calculation using cash from operations, commitments to shareholder payouts, and costs for the ambitious expansion program. To keep its business afloat, Exxon is now reviewing global operations to determine areas to cut expenses. Notably, scaling down dividends is on the table. Following the shortfall, there are concerns over this year’s Exxon dividends. Exxon shares have remained depressed after closing at $39.08, a drop of 56% since Woods became CEO in 2017....