Source: Matador Resources
American energy firm Matador Resources Company has amended its dividend policy to double its prior scheme starting in the third quarter. MTDR and IJH are flat premarket.
- Matador is planning to pay a quarterly cash dividend of $0.10 per share on its common stock, double the $0.05 per share, which started in October 2021.
- The increased dividends are set to take place in the next quarterly dividend, expected in the third quarter of the year.
- Chairman and Chief Executive Officer Joseph Wm. Foran said the revised policy reflects the “growing financial and operational strength.”
- Foran said the change is also in line with the firm’s resolve to cut down its debt and return value to shareholders.
- The official added that the company remains committed to the profitable growth of our business at a measured pace.