By Michael Aneiro

Exxon Mobil Corp. (XOM) upped its dividend Wednesday by a hefty 21%, to 57 cents a share from 47 cents in the first quarter, payable June 11 to shareholders of record on May 14.

The dividend boost arrives a day before Exxon reports its latest quarterly results and is expected to cost the company about $1.9 billion more a year. Exxon touts that it’s increased its annual dividend payment to shareholders for 30 consecutive years.