Visibility to Growth and Disciplined Capital Management
8
$0.30
Delivering on our Commitment of
Cash Returns to Stockholders
Annual Dividend Per Share and
Weighted Average Shares Outstanding
as Percentage Relative to 2011
Dividend/share
3.7%
3.9%
570 million
shares
WASO
98% 96%
93%
88%
416 million
shares
81%
78% 75% 73%
$3.60
1.9%
$3.20
$2.80
$2.40
$1.70
$1.05
$0.85
$0.65
2011 2012 2013 2014 2015 2016 2017 2018 2019 (1)
S&P 500
Valero
Energy
Utilities
Real
Estate
Annual Dividend Yield (2)
3.1% 3.1%
2.8%
2.2% 2.1%
1.9%
(1) 2019 weighted average shares outstanding through September 30, 2019. Dividends
per share annualized based on most recent quarterly dividend.
Source: Bloomberg as of October 31, 2019.
(2) Dividend yield for sectors reflects the Index Yield of the respective SPDR
exchange-traded fund (ETF).
Targeting continued buybacks and sustainable annual dividend growth.
Cons.
Staples
Financials
Materials
Industrials
Care
Health
Cons.
1.7%
1.5%
1.4%
Disc.
Tech
Comm.
Services
Valero
1.0%View entire presentation