Diversified Energy Company PLC Announces First Quarter Dividend

Rhea-AI Summary

Diversified Energy Company PLC has announced an interim dividend of 4.25 cents per share for the first quarter of 2022, marking a 6% increase from 4Q21 and consistent with 4Q21. Key dates include the ex-dividend date on September 1, 2022, the record date on September 2, 2022, and the payment date on September 26, 2022. CEO Rusty Hutson highlighted the company’s strong cash flow generation from recent asset acquisitions, facilitating approximately $450 million in dividends and significant stakeholder distributions.

Positive

• Declared a 4.25 cents per share dividend, a 6% increase from 1Q21.
• Strong cash flow generation from Central Region assets supports shareholder returns.
• Approximately $450 million in dividends declared, reflecting financial strength.

Negative

• None.

BIRMINGHAM, AL / ACCESSWIRE / May 16, 2022 / Diversified Energy Company PLC (LSE:DEC) ("Diversified" or "the Company") is pleased to announce that the Board has declared an interim dividend of 4.25 cents per share in respect of 1Q22 for the three month period ended March 31, 2022, consistent with 4Q21 and a 6% increase over 1Q21 (4.00 cents).

Key dates related to the declared dividend include:

Ex-dividend Date:	September 01, 2022
Record Date:	September 02, 2022
Payment Date:	September 26, 2022
Default Currency:	US Dollar
Currency Election Option:	Sterling
Last Date for Currency Election:	September 07, 2022

Rusty Hutson, Jr., CEO of Diversified, commented:

"We are pleased to declare our first quarter dividend for shareholders as we integrate and generate cash flow from the Central Region assets we acquired in the latter half of last year. Our commitment to target long-life, low-decline producing assets and their complementary midstream and processing facility assets has allowed us to pay and declare approximately $450 million in dividends alongside significant distributions benefiting our other stakeholders including significant debt payments, funding our comprehensive ESG commitments, and funding our asset retirement commitments including the purchase of two established well-retirement companies in Appalachia."

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 September 07, 2022.

Diversified will announce the sterling value of the dividend payable per share approximately two weeks prior to the payment date.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information please contact:

Diversified Energy Company PLC	+1 251 508 5901
Wren Smith	ir@dgoc.com
www.div.energy
FTI Consulting	deccommunications@fticonsulting.com
US & UK Financial Public Relations

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.

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SOURCE: Diversified Energy Company PLC

View source version on accesswire.com:
https://www.accesswire.com/701465/Diversified-Energy-Company-PLC-Announces-First-Quarter-Dividend

FAQ

What is the declared dividend amount for DECPF?

The declared dividend amount for DECPF is 4.25 cents per share.

When is the payment date for Diversified Energy's dividend?

The payment date for the dividend is September 26, 2022.

What are the key dates related to the dividend for DECPF?

Key dates include the ex-dividend date on September 1, 2022, and the record date on September 2, 2022.

How much has Diversified Energy Company paid in dividends historically?

Diversified Energy has declared approximately $450 million in dividends historically.

Is the dividend payment for DECPF sustainable?

The sustainability of the dividend is supported by strong cash flow generation from acquired assets.