Last checked at 15 Dec 2023 16:31
15 December 2023
DIVERSIFIED ENERGY COMPANY PLC
(the "Company")
Q2 2023 Dividend Exchange Rate
Diversified Energy Company PLC (LSE: DEC) announced, on 1 September 2023, an interim dividend in respect of the second quarter ended 30 June 2023 of 4.375 cents per share of £0.01 each ("Q2 2023 Dividend"). This per share amount reflects the record date for the dividend occurring prior to the 20 for 1 share consolidation on Tuesday, 5 December 2023 (the "Consolidation"). As previously announced, the Company intends to pay the Q2 2023 Dividend on 29 December 2023 to those shareholders on the register on 1 December 2023.
The Company announces that shareholders who have elected to receive Q2 2023 Dividend in GBP sterling will receive an equivalent payment of 3.42 pence per share, based on the 14 December 2023 exchange rate of GBP 0.78185=US $1.00.
Beginning with the Q3 2023 dividend payment as announced on 15 November 2023, the per share dividend will be reflected on a post-Consolidation basis.
Illustrative Dividend Payment Example:
The illustrative Q3 2023 dividend payment example provides shareholders with a calculation for how the Q3 2023 Dividend payment will be adjusted for ordinary shares of £0.20 each as of the record date.
Pre-Consolidation: 100 shares x $0.04375 (declared dividend) = $4.375 (total shareholder payment)
Post-Consolidation: 5 shares x $0.875 (adjusted declared dividend) = $4.375 (total shareholder payment)
For further information, please contact:
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About Diversified Energy Company PLC
Diversified is a leading independent energy company focused on producing, marketing, transporting, and retiring primarily natural gas and liquids assets. Our differentiated strategy provides the solution for existing long-life assets that have become non-core to traditional exploration companies. We acquire and then invest in each asset to improve environmental and production performance and ultimately retire the wells in a safe and environmentally secure process. This stewardship approach makes us the Right Company at the Right Time, enabling us to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.
Forward-looking statements
This announcement includes forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all of which are based on management's current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as "believe", "expects", "targets", "may", "will", "could", "should", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positioned" or "anticipates" or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of management or the Company concerning, among other things, the results of operations, financial condition, prospects, growth, strategies and dividend policy of the Company and the industry in which it operates.