Watch List: Unit Corp. (UNTC) Update - Dec 9

[dan_s]

Unit Corporation (OTCQX: UNTC) recently announced that its board of directors have declared the following cash dividends:

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 today that it intends to continue to pay a quarterly cash dividend of $1.25 per share for 2025. < Based on the share prices at the time of this post, the annualized dividend yield, just considering the quarterly dividends, is 15.9%.

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.

About Unit Corporation

Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas production and contract drilling. For more information about Unit Corporation, visit its website at http://www.unitcorp.com.
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I may be adding UNTC to our High Yield Income Portfolio.