SM Energy Declares Semi-Annual Cash Dividend
April 15 2011 - 9:00AM
Business Wire
SM Energy Company (NYSE: SM) today announces that its Board of
Directors has approved a semi-annual cash dividend of $0.05 per
share of common stock outstanding. The dividend will be paid on May
9, 2011, to stockholders of record as of the close of business on
April 29, 2011. The Company currently has approximately 63.6
million shares of common stock outstanding.
The Company has paid cash dividends to its stockholders every
year since 1940. The Board of Directors plans to continue making
semi-annual dividend payments at the rate of $0.05 per share for
the foreseeable future, subject in its sole discretion to future
earnings, capital requirements, financial condition, contractual
obligations, and other factors.
INFORMATION ABOUT FORWARD LOOKING STATEMENTS
This release contains forward looking statements within the
meaning of securities laws, including plans for future periods. The
words “will” and “plans” and similar expressions are intended to
identify forward looking statements. These statements involve known
and unknown risks, which may cause SM Energy’s actual results to
differ materially from results expressed or implied by the forward
looking statements. These risks include such factors as the
volatility in the price of natural gas, natural gas liquids, and
oil, the uncertain nature of the expected benefits from the
acquisition and divestiture of oil and gas properties,
uncertainties inherent in projecting future rates of production
from drilling activities and acquisitions, the ability of
purchasers of production to pay for divested properties, the
availability of debt and equity financing, the ability of the banks
in the Company's credit facility to fund requested borrowings, the
ability of hedge counterparties to settle hedges in favor of the
Company, the imprecise nature of estimating oil and gas reserves,
the availability of additional economically attractive exploration,
development, and property acquisition opportunities for future
growth and any necessary financings, unexpected drilling conditions
and results, unsuccessful exploration and development drilling,
drilling and operating service availability, the risks associated
with the Company's hedging strategy, and other such matters
discussed in the “Risk Factors” section of the Company’s 2010
Annual Report on Form 10-K filed with the SEC. Although the Company
may from time to time voluntarily update its prior forward looking
statements, it disclaims any commitment to do so except as required
by securities laws.
ABOUT THE COMPANY
SM Energy Company is an independent energy company engaged in
the exploration, exploitation, development, acquisition, and
production of natural gas, natural gas liquids, and crude oil.
SM Energy routinely posts important information about the
Company on its website. For more information about SM Energy,
please visit its website at sm-energy.com.
SM Energy (NYSE:SM)
Historical Stock Chart
From May 2024 to Jun 2024
SM Energy (NYSE:SM)
Historical Stock Chart
From Jun 2023 to Jun 2024