BOSTON (AP) — Think positive. The pain you're feeling at the pump from $4-a-gallon gas may become a little easier to bear once you receive your next quarterly mutual fund statement.
Chances are your fund portfolio holds big oil names that have been reporting Texas-sized profits this week and boosting dividends paid to their investors. Exxon Mobil, for example, is the biggest component in the Standard & Poor's 500, the most widely tracked benchmark among index funds anchoring many 401(k) plans and retirement accounts.
Exxon earned nearly $11 billion in the first quarter, its biggest profit in more than two years. Exxon and rival Chevron are increasing their quarterly dividends, boosting returns for investors. Combined, Exxon and Chevron make up about 4.6 percent of the S&P 500.
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