SandRidge Energy, Inc. logo. (PRNewsFoto/SandRidge Energy, Inc.)
SandRidge Energy, Inc. announced an increased one-time dividend of $1.50 per share for a total payout of approximately $55 million.
The Oklahoma City-based company also said it planned an on-going quarterly dividend increase to $0.11 per share, increased from the current $0.10 per share starting with the next quarterly payout.
The one-time $1.50 per share dividend will be payable on February 20, 2024 to shareholders of record on February 5, 2024.
The Board also announced that it currently plans to increase its on-going quarterly dividend to $0.11 per share starting with the next quarterly payout, estimated to be first paid in March 2024, continuing every quarter thereafter until noticed.
” We will also continue to focus on growing the value of our asset base while exercising prudent capital allocations to projects that provide high rates of returns in the current commodity price environment,” stated the company in its announcement.
It also said the firm will continue to maintain sufficient resources to execute on value accretive merger and acquisition opportunities, “which could bring synergies, complement our portfolio of assets, or otherwise yield attractive returns.”
