BOSTON (AP) — Think positive. The pain you're feeling at the pump from $4-a-gallon gas may become a little easier to bear once you receive your next quarterly mutual fund statement.
Chances are your fund portfolio holds big oil names that have been reporting Texas-sized profits this week and boosting dividends paid to their investors. Exxon Mobil, for example, is the biggest component in the Standard & Poor's 500, the most widely tracked benchmark among index funds anchoring many 401(k) plans and retirement accounts.
Exxon earned nearly $11 billion in the first quarter, its biggest profit in more than two years. Exxon and rival Chevron are increasing their quarterly dividends, boosting returns for investors. Combined, Exxon and Chevron make up about 4.6 percent of the S&P 500.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
