The board of
has voted to raise the petroleum company's quarterly dividend, beginning with the payment that shareholders will receive in September.
In a press release after the close Wednesday, ChevronTexaco said the board declared a quarterly dividend of 73 cents a share, payable Sept. 10 to stockholders of record Aug. 19.
The dividend rate represents an increase of 3 cents over the previous quarter. ChevronTexaco has an unbroken record of annual dividend payment increases of 16 consecutive years.
Shares of ChevonTexaco closed
New York Stock Exchange
trading at $71.80.