Energy giant Chevron announced a $75 billion stock buyback program and a dividend hike on Wednesday evening. Shares of Chevron were up more than 2% in extended trading. The buyback program will become effective on April 1, with no set expiration date, the company said in a press release. The dividend hike increases Chevron’s per share payout to $1.51 from $1.42, and that will be distributed on March 10. Chevron’s market cap was roughly $350 billion as of Wednesday’s market close, meaning that the buyback would represent more than 20% of the company’s stock at current prices. This buyback plan follows a $25 billion ... (full story)