OKLAHOMA CITY, July 6, 2015 /PRNewswire/ -- SandRidge
Energy, Inc. (NYSE: SD) today announced that its Board of Directors
has declared a $4.25 per share
semi-annual dividend on its shares of 8.5% Convertible Perpetual
Preferred Stock that will be paid in shares of Company Common Stock
on August 15, 2015 to holders of
record on August 1, 2015. Pursuant to
Section 3A of the Certificate of Designation governing the terms of
the Preferred Stock, for the purpose of the dividend payment, one
share of Common Stock will be valued at 95% of the average of the
per share volume-weighted average prices for the 15 consecutive
trading day period ending July 29,
2015. The company has 2,650,000 shares of 8.5% Convertible
Perpetual Preferred Stock outstanding.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas
exploration and production company headquartered in Oklahoma City, Oklahoma with its principal
focus on developing high-return, growth-oriented projects in the
Mid-Continent region of the United
States. In addition, SandRidge owns and operates a saltwater
gathering and disposal system and a drilling rig and related oil
field services business.
CONTACT:
Duane M. Grubert
EVP – Investor Relations and Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-5515
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SOURCE SandRidge Energy, Inc.