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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:

















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


+ 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



Financial Public Relations

Ben Romney

Chris Judd

Henry Wilson

+44 20 7466 5000



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Statement re Proposed Dividend - RNS