Exxon warns activist plans threaten dividend

Exxon Mobil has said proposals put forth by an activist investor pushing for changes at the oil giant threaten future cash flows and the sustainability of its dividend.

Exxon Mobil has said proposals put forth by an activist investor pushing for changes at the oil giant threaten future cash flows and the sustainability of its dividend.

Exxon said in a letter to shareholders that hedge fund Engine No. 1’s approach ignores the role that oil and natural gas will play in the future and the leadership role that Exxon intends to take in reducing emissions through the development of lower-carbon technologies.