PXD's dividends will be going WAY UP - Aug 3

[dan_s]

Highlights

Delivered strong second quarter free cash flow1 of $616 million

Accelerated and increased variable dividend program; future variable dividend payments up to 75% of prior quarter's free cash flow after deducting the base dividend paid during the quarter

Declared inaugural variable dividend of $1.51 per share to be paid during the third quarter; represents approximately 75% of second quarter free cash flow after deducting the base dividend paid in April < Based on my forecast model, PXD's dividends should increase to over $2.50/Qtr in 2022 if their realized oil price is $65/bbl.

Averaged second quarter oil production of 363 thousand barrels of oil per day (MBOPD), in the upper half of guidance

Averaged second quarter production of 629 thousand barrels of oil equivalent per day (MBOEPD), near the top end of guidance

CEO Scott D. Sheffield stated, "Pioneer delivered a strong quarter as we integrated DoublePoint operations into our asset base, while continuing to execute one of the most efficient capital programs in the industry.

[Fraser921]

It's amazing to me how investor's react (positively) to dividends increases

PXD is up 8.3 `% on earnings and divy news leading the pack!