The acquistion of Noble Energy (NE) by Chevron (CVX) has been completed, ending the stock market listing of Noble Energy. On July 20, 2020 Chevron Corporation announced today that it has entered into a definitive agreement with Noble Energy, Inc. to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share.

Noble Energy, Inc. (NE) last cut its quarterly dividend by 83.3 percent to $0.02 per share in 2020. This followed a 9.1 percent dividend hike to $0.12 quarterly in the second quarter of 2019.

Prior to the acquisition by Chevron Noble Energy had been paying a dividend to shareholders every year since at least 1975. After the big dividend cut earlier this year Noble was paying an estimated $38 million in dividends to shareholders annually.

Noble Energy, Inc. is an independent oil and natural gas exploration and production company with a portfolio of both U.S. unconventional and global offshore conventional assets. The company is engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration, development and production. Noble Energy has operations in the United States, Israel, Cyprus, Equatorial Guinea, Cameroon, Gabon, Newfoundland and Suriname. The company was originally founded by Lloyd Noble who purchased first drilling rig in 1921. Noble Energy had been paying a dividend since at least 1975 before being acquired by Chevron.