NOG Declares $0.40 Quarterly Cash Dividend, 33% Increase YoY, 5% Sequential Increase Over Prior Quarter
Portfolio Pulse from Benzinga Newsdesk
Northern Oil and Gas, Inc. (NYSE:NOG) has declared a $0.40 per share quarterly cash dividend, a 5% increase from the prior quarter and a 33% increase YoY. The dividend is payable on January 31, 2024, to stockholders of record as of December 28, 2023. The company plans to maintain this dividend throughout 2024, which would result in a 7% increase in total per share dividends compared to 2023. The company's CFO expressed confidence in the company's asset base and risk management, and expects to retain significant additional free cash flow.
October 30, 2023 | 8:52 pm
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Northern Oil and Gas has declared a $0.40 per share quarterly cash dividend, a 5% increase from the prior quarter and a 33% increase YoY. The company plans to maintain this dividend throughout 2024, which would result in a 7% increase in total per share dividends compared to 2023.
The announcement of a dividend increase is generally seen as a positive signal by the market, as it indicates that the company's financial health is strong and it has confidence in its future earnings. This could potentially lead to an increase in the company's stock price in the short term. Furthermore, the company's plan to maintain this dividend throughout 2024 could make the stock more attractive to income-focused investors, potentially leading to increased demand for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100