Chevron's Iraq Bet Isn't the Real Dividend Growth Story. Here's What Is.

While Chevron's investments in Iraq and pipeline infrastructure grab headlines, the real driver of its 38-year dividend growth streak is the company's strong financial position and balance sheet management. With a debt-to-equity ratio of 0.2x and the ability to invest across energy cycles, Chevron can maintain dividend growth regardless of geopolitical events or energy price volatility.