A 78-cent a share quarterly dividend was declared Thursday by WPX Energy’s board of directors in Tulsa.
The dividend is for holders of the company’s 6.25 percent Series A Mandatory Convertible Preferred Stock.
It will be payable as of July 31, 2018 to holders of record of the company’s preferred stock on July 13, 2018. The dividend was announced two weeks after the company reported first-quarter 2018 total production revenue of $407 million following the divestitures of its San Juan Basin assets in northern New Mexico.
Focusing on operations in the Permian and the Bakken, the company anticipates overall second-quarter oil volumes to increase by 16 percent to nearly 77,000 barrels a day.