Oil giant, Exxon Mobil Corp. (NYSE:XOM) said it is committed to providing shareholder returns with 4.2% increase in its quarterly dividend to $0.99 per share, over the previous $0.95. With a forward yield of 3.39%, the new dividend highlights Exxon's strong cash flow and consistent performance despite the recent industry swings. Dec. 10 will see the payment of the dividend to shareholders recorded as of Nov. 14 with an ex-dividend date likewise established for Nov. 14. Exxon's consistent dividend increase fits its approach to maximize shareholder profit by juggling reinvestment in important energy projects.

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Early trading Friday Exxon shares increased 0.57% as investors responded favorably to the company's ongoing emphasis on returns. Exxon's steady financial situation and perspective for long-term sustainability define the dividend bump. To put things in perspective, its important to note that the company has grown its payout for the past 25 years, making it part of the elite Dividend Aristocrat group. Moreover, in terms of dividend payments, its paid a dividend consistently for the past 41 years.

This article first appeared on GuruFocus.