Matador Resources Company Increases Quarterly Cash Dividend From $0.15 To $0.20 Per Share And Announces Increases To Its Credit Facility
Portfolio Pulse from Happy Mohamed
Matador Resources Company (NYSE:MTDR) has announced a 33% increase in its quarterly cash dividend from $0.15 to $0.20 per share, starting from Q4 2023. The company also declared a quarterly cash dividend of $0.20 per share payable on December 1, 2023. Additionally, Matador has amended its credit agreement, increasing the borrowing base from $2.25 billion to $2.5 billion, the maximum facility amount from $1.5 billion to $2.0 billion, and the elected commitment from $1.25 billion to $1.325 billion. JPMorgan Chase Bank has joined the bank group.
October 19, 2023 | 8:25 pm
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Matador Resources has increased its quarterly cash dividend by 33% and amended its credit agreement, which could indicate a strong financial position and positive operational outlook.
The increase in Matador's dividend and the amendment of its credit agreement could be seen as positive signs of the company's financial strength and operational outlook. This could potentially lead to an increase in the company's stock price in the short term.
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