Continental Resources Inc. declared an increase in a quarterly dividend on Friday.
The Oklahoma City company’s board of directors declared a 15-cent a share dividend on the firm’s outstanding common stock. It will be payable on August 20, 2021 to stockholders of record on August 10, 2021.
“Continental’s dividend update is a $0.04 increase to the Company’s $0.11 per share quarterly dividend paid in second quarter 2021 and triple the Company’s initial dividend paid in fourth quarter 2019,” said Bill Berry, Chief Executive Officer.
“With an approximately 1.7% annualized dividend yield, our increased dividend underscores the Board’s and management’s commitment to returning significant cash to shareholders, demonstrates our confidence in the quality and sustainability of our asset base and competes strongly versus industry peers.”