Matador Resources (MTDR) Update - Dec 6
Posted: Tue Dec 06, 2022 11:59 am
All of the Sweet 16 companies have much stronger balance sheets than they had a year ago.
DALLAS, December 06, 2022--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) ("Matador" or the "Company") today announced that its Board of Directors amended the Company’s dividend policy pursuant to which the Company intends to pay cash dividends on its common stock of $0.15 per share per quarter in 2023, which is a 50% increase from its prior policy of $0.10 per share per quarter. The Company anticipates that the Board will implement such amended policy in connection with the declaration of Matador’s next quarterly dividend, which is expected during the first quarter of 2023 for a dividend to be paid during early March 2023.
Joseph Wm. Foran, Matador’s Founder, Chairman and Chief Executive Officer, stated, "We are pleased to announce an increase in the Company’s dividend policy. Today’s announcement of a quarterly cash dividend policy of $0.15 per share is an increase of 50% as compared to Matador’s prior quarterly cash dividend policy of $0.10 per share. Matador’s Board of Directors adopted its initial dividend policy in February 2021 with a quarterly cash dividend of $0.025 per share, which was doubled in October 2021 to $0.05 per share and doubled again in June 2022 to $0.10 per share. The continued increase in our quarterly cash dividend is evidence of our commitment to return value to Matador’s shareholders as well as our growing financial strength and positive operational outlook. In fact, in the last two years, we have reduced our outstanding debt by $775 million. As a result, our leverage ratio has been at an all-time low for us as a public company of only 0.2x at the end of the third quarter of 2022. We are grateful for the continued support and friendship of our shareholders and look forward to paying this anticipated dividend to our shareholders during the first quarter of 2023."
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
DALLAS, December 06, 2022--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) ("Matador" or the "Company") today announced that its Board of Directors amended the Company’s dividend policy pursuant to which the Company intends to pay cash dividends on its common stock of $0.15 per share per quarter in 2023, which is a 50% increase from its prior policy of $0.10 per share per quarter. The Company anticipates that the Board will implement such amended policy in connection with the declaration of Matador’s next quarterly dividend, which is expected during the first quarter of 2023 for a dividend to be paid during early March 2023.
Joseph Wm. Foran, Matador’s Founder, Chairman and Chief Executive Officer, stated, "We are pleased to announce an increase in the Company’s dividend policy. Today’s announcement of a quarterly cash dividend policy of $0.15 per share is an increase of 50% as compared to Matador’s prior quarterly cash dividend policy of $0.10 per share. Matador’s Board of Directors adopted its initial dividend policy in February 2021 with a quarterly cash dividend of $0.025 per share, which was doubled in October 2021 to $0.05 per share and doubled again in June 2022 to $0.10 per share. The continued increase in our quarterly cash dividend is evidence of our commitment to return value to Matador’s shareholders as well as our growing financial strength and positive operational outlook. In fact, in the last two years, we have reduced our outstanding debt by $775 million. As a result, our leverage ratio has been at an all-time low for us as a public company of only 0.2x at the end of the third quarter of 2022. We are grateful for the continued support and friendship of our shareholders and look forward to paying this anticipated dividend to our shareholders during the first quarter of 2023."
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.