exxon mobil corp xom said wednesday it will raise its quarterly dividend by a penny to 88 cents a share from 87 cents the new dividend will be payable dec 10 to shareholders of record on nov 12 the stock slumped 25 in afternoon trading amid a broad slump in energy stocks as crude oil futures cl00 shed 23 based on current stock prices exxon mobils new annual dividend rate implies a dividend yield of 548 which compares with the yield for the spdr energy select sector etf xle of 375 and the implied yield for the sp 500 spx of 132 exxon mobils new implied yield would make it the eighthhighest yielding stock in the sp 500 there had been some question as to whether exxon mobil would raise its dividend or not this year with chief executive darren woods assuring investors in july that the oil giant feels a very strong commitment toward a reliable and growing dividend