Dividend declared by PHX Minerals



PHX Minerals announced a quarterly dividend of 3 cents a share on the company’s common stock.

The Fort Worth-based company with operations throughout Oklahoma, Texas, Louisiana, North Dakota and Arkansas said the dividend will be payable on June 11 to shareholders of record on May 31, 2024.

The dividend was approved by the company’s Board of Directors. PHX finished its first quqrter with a net loss of $200,000 or a penny a share compared to net income of $2.5 million and 7 cents a share a year earlier. The company’s adjusted EBITDA was $4.6 million while its royalty production volumes dropped 5% and total production volumes were down 6%.

The firm reported it converted 85 gross wells to producing status during the quarter and has a current inventory of 230 gross wells in progress.