ExxonMobil (XOM) announced Wednesday a six-cent hike in its quarterly dividend to 63 cents.

Texas-based ExxonMobil, the world’s biggest publicly traded-energy company with a market value of roughly $401.5 billion, increased its annual dividend payment for 31 consecutive years.

The company said its second-quarter dividend will be payable to shareholders of record on May 13.

Shares were trading 28 cents higher at $89.58 in mid-afternoon trading.

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