Chevron to Buy Back $75 Billion in Stock After Record Profit

(Bloomberg) — Chevron Corp. plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers.

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The stock repurchase program will kick in April 1 and will be triple the size of the previous authorization unveiled in early 2019, the company said in a statement Wednesday. The program is equivalent to almost one-fourth of the…

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