Discover May's biggest dividend increases in the energy sector
Dividends
June 9, 2023
SandRidge Energy, Inc. recently announced several positive developments for its shareholders. Firstly, the Board of Directors declared a one-time dividend of $2.00 per share, totaling approximately $74 million. This dividend will be paid on June 7, 2023, to shareholders of record as of May 24, 2023. Additionally, the Board has planned an ongoing quarterly dividend of $0.10 per share, expected to start after the second quarter of 2023 and payable from August 2023 onwards. These dividend increases demonstrate SandRidge Energy's commitment to returning value to its shareholders. Furthermore, SandRidge Energy authorized a stock buyback program of up to $75 million.
Pembina Pipeline Corporation ("Pembina" or the "Company") reported strong financial and operating results for the first quarter of 2023, with earnings of $369 million and adjusted EBITDA of $947 million. In line with its performance, the board of directors declared a common share cash dividend increase of 2.3 percent for the second quarter of 2023, amounting to $0.6675 per share. This decision reflects Pembina's commitment to providing value to its shareholders. Pembina recently completed the sale of its interest in the Key Access Pipeline System (KAPS) and received key regulatory approvals for its Cedar LNG project, contributing to its positive outlook.
PBF Energy Inc., a leading energy company, recently reported impressive financial results for the first quarter of 2023. With income from operations reaching $532.4 million, a significant increase compared to the previous year, PBF Energy showcased its strong performance. The positive outcomes were driven by various factors, including a reduction of consolidated debt by $525 million during the first quarter and $2.8 billion over the last 12 months. Moreover, PBF Energy Inc. successfully repurchased over 8.8 million shares, valued at approximately $346 million. These accomplishments led to improved financial health and allowed for the announcement of an increased dividend of $0.20 per share of Class A common stock, demonstrating PBF Energy's commitment to enhancing shareholder returns. With a focus on operational excellence and anticipating market dislocation in the future, PBF Energy Inc. anticipates continued success and better-than-mid-cycle financial results for 2023.
ConocoPhillips, a leading energy company, recently reported its first-quarter 2023 earnings, demonstrating a resilient and value-driven approach. Despite a decrease in earnings compared to the previous year, ConocoPhllips achieved record production, made significant advancements in joint ventures and project approvals, and expanded its ownership position. In line with their commitment to delivering value to shareholders, ConocoPhillips distributed $3.2 billion through a three-tier return of capital framework, including share repurchases and an ordinary dividend. Reflecting their confidence in the company's prospects, ConocoPhillips increased its quarterly dividend to $0.51 per share, payable on June 1, 2023. This dividend increase is supported by ConocoPhilipps's solid financial performance, strategic investments, and accelerated greenhouse gas emissions-intensity reduction target, which further strengthens ConocoPhillips' position in the market and signals positive dividend prospects for investors.
NACCO Industries’ Board of Directors has decided to raise the regular cash dividend for its Class A and Class B Common Stock from 20.75 cents to 21.75 cents per share. The new dividend, with an annual rate of $0.87 per share, will be payable on June 15, 2023, to stockholders who held shares as of May 31, 2023.
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