Paramount Resources Ltd. announced Board of Directors has approved a 20% increase in the regular monthly dividend from $0.125 to $0.15 per Common Share. The Company continues to prioritize the delivery of shareholder returns through a combination of dividends and organic growth while maintaining a strong balance sheet. This is the fifth increase in the regular monthly dividend since it was implemented in July 2021.

First increased dividend of $0.15 per Common Share will be payable on May 31, 2024 to shareholders of record on May 15, 2024. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes.