OKLAHOMA
CITY, Jan. 16, 2024 /PRNewswire/ -- SandRidge
Energy, Inc. (the "Company") today announced that its Board of
Directors (the "Board") has (1) declared a one-time dividend of
$1.50 per share (for a total payout
of approximately $55 million) and (2)
planned an on-going quarterly dividend increase to $0.11 per share, increased from the current
$0.10 per share starting with the
next quarterly payout.
The one-time $1.50 per share dividend will
be payable on February 20, 2024 to
shareholders of record on February 5,
2024.
The Board also announced that it currently plans to increase its
on-going quarterly dividend to $0.11
per share starting with the next quarterly payout, estimated to be
first paid in March 2024, continuing
every quarter thereafter until noticed.
The Company will continue to maintain sufficient resources to
execute on value accretive merger and acquisition opportunities,
which could bring synergies, complement our portfolio of assets, or
otherwise yield attractive returns. We will also continue to focus
on growing the value of our asset base while exercising prudent
capital allocations to projects that provide high rates of returns
in the current commodity price environment.
About SandRidge Energy, Inc.
SandRidge Energy, Inc.
(NYSE: SD) is an independent oil and gas company engaged in the
development, acquisition, and production of oil and gas assets. Its
primary area of operations is the Mid-Continent region in
Oklahoma and Kansas. Further information can be found
at www.sandridgeenergy.com.
Contact Information
Investor Relations
SandRidge Energy, Inc.
1 E. Sheridan Ave., Suite 500
Oklahoma City, OK 73104
investors@sandridgeenergy.com
This release contains "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,
that are based on present circumstances and on the Company's
predictions with respect to events that have not occurred, that may
not occur, or that may occur with different consequences and timing
than those now assumed or anticipated. Such forward-looking
statements, including the expected future payment of dividends and
any statements of the plans and objectives of management for future
operations and forecasts of future growth and value, are not
guarantees of future performance or results and involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the
forward-looking statements. Such forward-looking statements are
made only as of the date of this release and the Company assumes no
obligation to update forward-looking statements to reflect
subsequent events or circumstances. Readers should not place undue
reliance on these forward-looking statements.
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SOURCE SANDRIDGE ENERGY, INC.