Last checked at 28 Oct 2021 07:00
28 October 2021
Diversified Energy Company PLC
("Diversified", or the "Company")
Third Quarter Dividend Announcement
Diversified Energy Company PLC (LSE: DEC) is pleased to announce that the Board has declared an interim dividend of 4.25 cents per share in respect of 3Q21 for the three month period ended 30 September 2021, a 13% increase over 3Q20 (3.75 cents) and a 6% increase over 2Q21 (4.00 cents).
Key dates related to the 3Q21 dividend include:
Ex-dividend Date: |
| 3 March 2022 |
Record Date: |
| 4 March 2022 |
Payment Date: |
| 28 March 2022 |
Default Currency: |
| US Dollar |
Currency Election Option: |
| Sterling |
Last Date for Currency Election: |
| 7 March 2022 |
Rusty Hutson Jr, CEO of Diversified, commented:
"We are pleased to announce another dividend increase for our shareholders. Our ability to raise the dividend re-affirms the value accretive nature of our acquisitive growth strategy, as our recent acquisitions of the Indigo, Blackbeard, and Tanos assets are contributing to meaningfully increased production, robust cash margins and strong cash generation. Looking ahead, we expect to generate substantial free cash flow over the coming years as we continue to execute our growth strategy. We remain focused on a balanced allocation of cash encompassing continued dividend growth, debt reduction and Environmental, Social and Governance (ESG) initiatives."
Diversified will pay the dividend in U.S. dollars while continuing to make available to shareholders a sterling election. For those shareholders who wish to receive their dividend payment in sterling, and who have not yet completed a currency election form, the Company has made available a dividend election form on its website at https://ir.div.energy/dividend-information. Shareholders who wish to receive sterling should submit the currency election form to Computershare Investor Services no later than 7 March 2022.
The sterling value of the dividend payable per share will be fixed and announced approximately two weeks prior to the payment date.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Diversified Energy Company PLC | +1 205 408 0909 |
Jim Sheehan |
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www.div.energy |
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ir@dgoc.com |
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Buchanan | +44 20 7466 5000 |
Financial Public Relations |
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Ben Romney |
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Chris Judd |
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Jon Krinks |
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James Husband |
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dec@buchanan.uk.com |
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About Diversified Energy Company PLC
Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.