NEW YORK, Jan 28 — Chevron defended its new US$75 billion share repurchase programme from White House criticism yesterday, as it reported record profits of US$35.5 billion...
NEW YORK, Jan 28 — Chevron defended its new US$75 billion share repurchase programme from White House criticism yesterday, as it reported record profits of US$35.5 billion in 2022.
On Wednesday, White House spokesman Abdullah Hasan blasted the announcement as a US$75 billion giveaway “to executives and wealthy shareholders” at a time when the company has “claimed” to be working to boost output, he said on Twitter. In all, Chevron returned US$11.25 billion to shareholders, repurchasing nearly 70 million shares, it said in an earnings release.
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