Matador Resources Company Amends Quarterly Cash Dividend Policy to Double Quarterly Cash Dividend
June 10 2022 - 6:30AM
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 quarterly cash dividends on its common stock of $0.10 per
share, which is an increase from its prior policy of $0.05 per
share initiated in October 2021. The Company anticipates that the
Board will implement such amended policy in connection with the
declaration of its next quarterly dividend, which is expected
during the third quarter of 2022.
Joseph Wm. Foran, Matador’s Founder, Chairman and Chief
Executive Officer, stated, “We are pleased to announce the Board’s
adoption of a new dividend policy to double our quarterly dividend
again. This change in our dividend policy is a reflection of our
growing financial and operational strength and our increasing
resolve to reduce debt and to return value to our shareholders. We
are pleased to have this opportunity to return value to
shareholders while we remain committed to profitable growth of our
business at a measured pace. We look forward to providing an update
soon on our operations and 2022 outlook during our Annual Meeting
of Shareholders later today and are truly grateful for the support
and friendship of our shareholders and our continued good
performance in the market.”
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, primarily through its
midstream joint venture, San Mateo, 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.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. “Forward-looking statements” are statements related to
future, not past, events. Forward-looking statements are based on
current expectations and include any statement that does not
directly relate to a current or historical fact. In this context,
forward-looking statements often address expected future business
and financial performance, and often contain words such as “could,”
“believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,”
“may,” “should,” “continue,” “plan,” “predict,” “potential,”
“project,” “hypothetical,” “forecasted” and similar expressions
that are intended to identify forward-looking statements, although
not all forward-looking statements contain such identifying words.
Such forward-looking statements include, but are not limited to,
statements about guidance, projected or forecasted financial and
operating results, future liquidity, the payment of dividends,
results in certain basins, objectives, project timing, expectations
and intentions, regulatory and governmental actions and other
statements that are not historical facts. Actual results and future
events could differ materially from those anticipated in such
statements, and such forward-looking statements may not prove to be
accurate. These forward-looking statements involve certain risks
and uncertainties, including, but not limited to, the following
risks related to financial and operational performance: general
economic conditions; the Company’s ability to execute its business
plan, including whether its drilling program is successful; changes
in oil, natural gas and natural gas liquids prices and the demand
for oil, natural gas and natural gas liquids; its ability to
replace reserves and efficiently develop current reserves; costs of
operations; delays and other difficulties related to producing oil,
natural gas and natural gas liquids; delays and other difficulties
related to regulatory and governmental approvals and restrictions;
impact on the Company’s operations due to seismic events;
availability of sufficient capital to execute its business plan,
available borrowing capacity under its revolving credit facilities
and otherwise; its ability to make acquisitions on economically
acceptable terms; its ability to integrate acquisitions; weather
and environmental conditions; the impact of the worldwide spread of
the novel coronavirus, or COVID-19, on oil and natural gas demand,
oil and natural gas prices and its business; the operating results
of the Company’s midstream joint venture’s oil, natural gas and
water gathering and transportation systems, pipelines and
facilities, the acquiring of third-party business and the drilling
of any additional salt water disposal wells; and the other factors
which could cause actual results to differ materially from those
anticipated or implied in the forward-looking statements. For
further discussions of risks and uncertainties, you should refer to
Matador’s filings with the Securities and Exchange Commission
(“SEC”), including the “Risk Factors” section of Matador’s most
recent Annual Report on Form 10-K and any subsequent Quarterly
Reports on Form 10-Q. Matador undertakes no obligation to update
these forward-looking statements to reflect events or circumstances
occurring after the date of this press release, except as required
by law, including the securities laws of the United States and the
rules and regulations of the SEC. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary
statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20220610005092/en/
Mac Schmitz Vice President – Investor Relations
investors@matadorresources.com (972) 371-5225
Matador Resources (NYSE:MTDR)
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