Chevron fourth-quarter profits fall but shareholders see record windfall in 2023

Chevron said its fourth-quarter profits fell sharply from a year ago, weighed down by a number of impairment charges, but the second largest U.S. oil company still to managed to return a record amount of cash to its shareholders in 2023.The oil major returned $23.6 billion to investors by paying out $11.3 billion in dividends and buying back $14.9 billion in shares last year. It did so even as its profit fell about 40% to $21.3 billion from $35.5 billion in 2022.Chevron said its board approved an 8% increas ...