NOG Declares $0.40 Quarterly Cash Dividend, 18% Increase YoY; NOG Periodically Enters Into Hedging Agreements To Protect The Underwritten Returns On The Capital It Commits To Acquisitions And Development On Its Properties
Portfolio Pulse from Benzinga Newsdesk
Northern Oil and Gas, Inc. (NOG) announced an 18% YoY increase in its quarterly cash dividend to $0.40 per share, payable on April 30, 2024, to stockholders of record as of March 28, 2024. The company also highlighted its hedging strategy to protect returns on capital committed to acquisitions and development. NOG has added significant oil and natural gas hedges for 2024 and beyond, aiming to maximize total shareholder return amidst a moderated commodity price environment.
February 06, 2024 | 9:37 pm
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NOG declared an 18% increase in its quarterly cash dividend to $0.40 per share and emphasized its hedging strategy to protect returns. The company aims to maximize shareholder value through growth investments and potential share repurchases.
The increase in dividend and the strategic emphasis on hedging to protect returns are positive signals for investors, indicating strong financial health and a proactive approach to managing risks. This is likely to be viewed favorably by the market, potentially leading to a short-term positive impact on NOG's stock price.
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