Exxon cuts capital spending by 30%, but CEO says it’s ‘committed to maintaining’ dividend

Exxon is slashing its 2020 capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company’s dividend is safe for the time being.

“A lot of our shareholders are retail shareholders — people who depend on that dividend — so we’ve been pretty committed to maintaining that and if necessary in the short-term using the balance sheet to support it,”…

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