Unit Corporation in Tulsa announced that its board of directors declared cash dividends for the fourth quarter and a special payment to shareholders.
- a quarterly cash dividend of $1.25 per share of common stock for the fourth quarter of 2024 to be paid on December 27, 2024, to shareholders of record as of the close of business on December 17, 2024; and
- a special cash dividend of $2.00 per share of common stock to be paid on December 27, 2024, to shareholders of record as of the close of business on December 17, 2024.
The company also announced that it intends to continue to pay a quarterly cash dividend of $1.25 per share for 2025.
Phil Frohlich, the Company’s Chief Executive Officer, commented, “Our ability to sustain our dividend program and pay another special dividend reflects the strength of our operations, capital discipline, and our commitment to delivering long-term value for our shareholders.”
The declaration and payment of any future dividend, whether fixed, special, or variable, will remain at the full discretion of the Company’s Board of Directors and will depend upon the Company’s financial position, results of operations, cash flows, capital requirements, business conditions, future expectations, the requirements of applicable law, and other factors that the Company’s Board of Directors finds relevant at the time of considering any potential dividend declaration.
Source: Unit release