Northern Oil and Gas, Inc. Declares Cash Dividend, Payable on July 29, 2022; Recommends Dividend for the Third Quarter of 2022
May 03, 2022 at 04:30 pm EDT
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Northern Oil and Gas, Inc. announced that its Board of Directors has declared a cash dividend on the Company's common stock in the amount of $0.19 per share, representing a 36% increase from the prior quarterly dividend. The dividend is payable on July 29, 2022, to stockholders of record as of the close of business on June 29, 2022.
The management has updated its third quarter dividend recommendation to the Board of Directors. Management plans to recommend a dividend of $0.25 per share ($1.00 per share annualized) to the Board of Directors for the third quarter of 2022, a 32% increase over the second quarter dividend, and 14% higher than the previous target of $0.22.
Northern Oil and Gas, Inc. is a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins within the contiguous United States. Its principal business is crude oil and natural gas exploration, development, and production with operations in the United States. Its 272,251-acre portfolio is distributed across the Williston, Permian, and Appalachia Basins. Its portfolio comprises about 272,251 acres of low-breakeven lands with over 9,765 wells. Diversified by basin and across commodity type, its wells are operated by over 100 public and private operators. It primarily engages in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include its acreage. In addition, it acquires wellbore-only working interests in wells. It also owns the Utica and Northern Delaware Basin assets.
NORTHERN OIL AND GAS, INC. 
