Chevron Announces 8.3 Percent Increase in Quarterly Dividend

The Board of Directors of Chevron Corporation CVX today declared a quarterly dividend of seventy-eight cents ($0.78) per share, payable June 10, 2011, to holders of common stock as shown on the transfer records of the Corporation at the close of business on May 19, 2011. The amount represents an 8.3 percent increase in the company's quarterly dividend.