leadf
logo-loader
RNS
viewDiversified Gas & Oil PLC

Diversified Gas &Oil - Third Quarter Dividend Announcement

RNS Number : 5447D
Diversified Gas & Oil PLC
29 October 2020
 

29 October 2020

 

Diversified Gas & Oil PLC

("DGO" or the "Company")

 

Third Quarter Dividend Announcement

 

Diversified Gas & Oil PLC (LSE: DGOC), the U.S. based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets, is pleased to announce that the Board has declared an interim dividend of 4.00 cents per share in respect of 3Q20 for the three month period ended 30 September 2020, a 14% increase over 3Q19 (3.50 cents) and a 7% increase over 2Q20.

 

Key dates related to the 3Q20 dividend include:

Ex-dividend Date:


4 March 2021

Record Date:


5 March 2021

Payment Date:


26 March 2021

Default Currency:


US Dollar

Currency Election Option


Sterling

Last Date for Currency Election


8 March 2021

 

 

Commenting on the dividend declaration, CEO Rusty Hutson said:

 

"After already increasing our dividend 7% last quarter, the fact that we are increasing our dividend by a further 7%, during a period when many companies across all sectors are facing severe headwinds, emphasizes the unique nature of our business model and the value accretive nature of our acquisitive growth strategy and asset optimisation. Evidenced by our exceptionally low operating costs and healthy cash margins, our company is built to operate in any price environment, but it is in this particular climate that we are able to demonstrate the true value of our focus on material and low-risk cash flow. We are wholly committed to returning that value to our shareholders in the form of reliable quarterly dividends while simultaneously maintaining a healthy balance sheet to enable us to capitalise on generational opportunities to create long-term value for shareholders. Our consistent and successful performance during what is perceived to be one of the most challenging environments both for the macro and for the sector speaks to what we can deliver in healthier times."

 

DGO will pay the dividend in U.S. dollars while continuing to make available to shareholders a sterling election. For those shareholders who wish to receive their dividend payment in sterling, and who have not yet completed a currency election form, the Company has made available a dividend election form on its website at https://ir.dgoc.com/dividend-information. Shareholders who wish to receive sterling should submit the currency election form to Computershare Investor Services no later than 8 March 2021.

 

The sterling value of the dividend payable per share will be fixed and announced approximately one week prior to the payment date.

 

 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

Diversified Gas & Oil PLC

+1 205 408 0909

Teresa Odom, Vice President, Investor Relations


www.dgoc.com


ir@dgoc.com




Buchanan

+44 20 7466 5000

Financial Public Relations


Ben Romney


Chris Judd


Kelsey Traynor


James Husband


dgo@buchanan.uk.com


 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DIVDBBDGCBDDGGI

Quick facts: Diversified Gas & Oil PLC

Price: -

Market: LSE
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: Diversified Gas & Oil boosts production by 10% in third quarter

Diversified Gas & Oil PLC (LON:DGOC) CEO Rusty Hutson tells Proactive New York that the company has flagged up third-quarter production growth of 10%, at 91,100 barrels oil equivalent per day (boepd) compared to its 2Q. Hutson says growth is being driven by its current hedge program,...

on 11/14/2019

4 min read