Regulatory Story
Go to market news section View chart   Print
RNS
Diversified Gas & Oil PLC  -  DGOC   

Statement re Proposed Dividend

Released 07:00 03-Apr-2018

RNS Number : 5404J
Diversified Gas & Oil PLC
03 April 2018
 

3 April 2018

 

Diversified Gas & Oil PLC

("DGO" or the "Company")

 

Dividend Statement

 

 

Diversified Gas & Oil PLC (AIM: DGOC), a leading independent US based gas and oil producer focused on the Appalachian Basin, has today confirmed that the Company expects to announce its full year results on 30 April 2018, at which time the Board confirms that it will declare a final dividend for 2017 of 3.45 cents per share (the "Final Dividend"), making a total dividend for the year a total of 5.44 cents per share.  The Company expects to pay the Final Dividend on 31 May 2018 to those shareholders on the register on 11 May 2018.  Payment of the Final Dividend will be subject to approval by Shareholders at the AGM, to be held on 29 May 2018.

 

Diversified continues to generate strong free cash flow by efficiently managing its business and through its recent, highly accretive transformational growth.  The Board remains committed to the stated dividend policy that the Company will pay not less than 40 per cent of operating free cash flow by way of its dividend.  For 2017, DGO's total dividend will be US$ 13.6 million including its interim ($2.9 million) and final ($10.7 million) dividends. 

 

Given the strength and consistency of the Company's cash flows, the Board also announces that it intends to move to payment of four quarterly dividends with effect from 2018.  The anticipated calendar of dividend payments will be:

 


Announced

Paid

Q1

May

September

Q2

September

December

Q3

December

March

Q4

April

June

 

The Board expects to announce a dividend for the first quarter of 2018 at the time of the AGM on 29 May 2018.

 

 

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

 

For further information contact:

 

Diversified Gas & Oil PLC

Rusty Hutson Jr., Chief Executive Officer

Brad Gray, Chief Operating Officer and Finance Director

Eric Williams, Chief Financial Officer

www.diversifiedgasandoil.com

 

+ 1 (205) 408 0909

 

Smith & Williamson Corporate Finance Limited

Nominated Adviser & Joint Broker

Russell Cook

Katy Birkin

 

+44 20 7131 4000

 

Mirabaud Securities Limited

Joint Broker

Peter Krens

Edward Haig-Thomas

 

+44 20 3167 7222

 

Stifel Nicolaus Europe Limited 

Joint Broker

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

 

+44 20 7710 7600

 

Buchanan

Financial Public Relations

Ben Romney

Chris Judd

Henry Wilson

dgo@buchanan.uk.com

+44 20 7466 5000

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
STRITMJTMBTMTFP
Close


London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

 


Statement re Proposed Dividend - RNS