SandRidge Energy, Inc. announced a one-time dividend, a planned ongoing quarterly dividend, and a stock buyback program
Buybacks
May 13, 2023
May 12, 2023
SandRidge Energy, Inc. has recently announced a one-time dividend of $2.00 per share, a planned ongoing quarterly dividend of $0.10 per share, and a stock buyback program of up to $75 million. The move is expected to benefit shareholders and boost investor confidence in the company's financial stability.
The Board of Directors has declared a one-time dividend of $2.00 per share, which amounts to a total payout of approximately $74 million. The dividend will be payable on June 7, 2023, to shareholders of record on May 24, 2023. This one-time payout is a sign of the company's strong financial position and commitment to shareholder value.
The Board has also announced an ongoing quarterly dividend of $0.10 per share starting after the second quarter of 2023, with the first payment expected in August 2023. This regular payout is expected to increase investor confidence in the company's long-term financial stability and provide a steady stream of income for its shareholders.
SandRidge Energy, Inc. has authorized a $75 million stock buyback program, allowing the company to purchase shares on the open market using cash on hand. This move is a sign of the company's confidence in its long-term financial position and commitment to shareholder value.
The company has also stated that it will continue to maintain optionality to execute on value accretive merger and acquisition opportunities that could bring synergies, leverage its core competencies, complement its portfolio of assets, further utilize its net operating losses or otherwise yield attractive returns for its shareholders. The company will also focus on growing the cash value allocation capability of its asset base in a safe, responsible and efficient manner while exercising prudent capital allocations to projects it believes provide high rates of returns in the current commodity price environment.
Members of LevelFields received the alert of this event on May 12, 9:20 PM ET
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