VAALCO Energy, Inc. Declares Third Quarter 2024 Dividend
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) has declared a quarterly cash dividend of $0.0625 per share for the third quarter of 2024, payable on September 20, 2024, to stockholders of record as of August 23, 2024. This maintains the company's annualized dividend at $0.25 per share, consistent with its 2023 payout. CEO George Maxwell highlighted the dividend's support from VAALCO's operational and financial success, noting the company's ability to return cash to shareholders while pursuing growth through organic development and acquisitions, such as the recent Svenska acquisition. VAALCO has consistently paid dividends since early 2022, distributing $0.13 per share in 2022 and $0.25 per share in 2023.
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ha annunciato un dividendo in contante trimestrale di $0.0625 per azione per il terzo trimestre del 2024, che sarà pagato il 20 settembre 2024 agli azionisti registrati al 23 agosto 2024. Questo mantiene il dividendo annualizzato dell'azienda a $0.25 per azione, in linea con il pagamento del 2023. Il CEO George Maxwell ha evidenziato il sostegno del dividendo grazie al successo operativo e finanziario di VAALCO, sottolineando la capacità dell'azienda di restituire liquidità agli azionisti mentre persegue la crescita attraverso lo sviluppo organico e acquisizioni, come l'acquisizione recente di Svenska. VAALCO ha costantemente pagato dividendi sin dall'inizio del 2022, distribuendo $0.13 per azione nel 2022 e $0.25 per azione nel 2023.
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) ha declarado un dividendo en efectivo trimestral de $0.0625 por acción para el tercer trimestre de 2024, pagadero el 20 de septiembre de 2024 a los accionistas registrados a partir del 23 de agosto de 2024. Esto mantiene el dividendo anualizado de la compañía en $0.25 por acción, consistente con el pago de 2023. El CEO George Maxwell destacó el respaldo del dividendo debido al éxito operativo y financiero de VAALCO, señalando la capacidad de la empresa para devolver efectivo a los accionistas mientras persigue el crecimiento a través del desarrollo orgánico y adquisiciones, como la reciente adquisición de Svenska. VAALCO ha pagado dividendos de manera constante desde principios de 2022, distribuyendo $0.13 por acción en 2022 y $0.25 por acción en 2023.
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY)은 2024년 3분기에 대해 $0.0625 per 주식의 분기 현금 배당금을 발표하였으며, 이는 2024년 9월 20일에 2024년 8월 23일 현재 주주들에게 지급됩니다. 이는 회사의 연간 배당금을 $0.25 per 주식으로 유지하며, 2023년의 배당금과 일치합니다. CEO 조지 맥스웰은 VAALCO의 운영 및 재정적 성공이 배당금을 뒷받침하는 요소라고 강조하며, 지난 스벤스카 인수와 같은 유기적 개발 및 인수를 통해 성장하려는 과정에서도 주주에게 현금을 반환할 수 있는 능력을 언급했습니다. VAALCO는 2022년 초부터 일관되게 배당금을 지급해왔으며, 2022년에 주당 $0.13, 2023년에 주당 $0.25를 배포했습니다.
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) a annoncé un dividende trimestriel en espèces de 0,0625 $ par action pour le troisième trimestre de 2024, qui sera versé le 20 septembre 2024 aux actionnaires enregistrés au 23 août 2024. Cela maintient le dividende annualisé de la société à 0,25 $ par action, conformément à son versement de 2023. Le PDG George Maxwell a souligné le soutien du dividende grâce au succès opérationnel et financier de VAALCO, notant la capacité de l'entreprise à restituer des liquidités aux actionnaires tout en recherchant la croissance par le développement organique et des acquisitions, comme la récente acquisition de Svenska. VAALCO a régulièrement payé des dividendes depuis début 2022, répartissant 0,13 $ par action en 2022 et 0,25 $ par action en 2023.
VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) hat eine vierteljährliche Barausschüttung von 0,0625 $ pro Aktie für das dritte Quartal 2024 erklärt, die am 20. September 2024 an die am 23. August 2024 registrierten Aktionäre ausgezahlt wird. Dies hält die annualisierte Dividende des Unternehmens bei 0,25 $ pro Aktie, was mit der Ausschüttung von 2023 übereinstimmt. CEO George Maxwell hob die Unterstützung der Dividende durch den operativen und finanziellen Erfolg von VAALCO hervor und wies darauf hin, dass das Unternehmen in der Lage ist, den Aktionären Bargeld zurückzugeben, während es durch organische Entwicklung und Akquisitionen, wie die kürzliche Übernahme von Svenska, Wachstum anstrebt. VAALCO hat seit Anfang 2022 kontinuierlich Dividenden ausgezahlt, wobei 2022 0,13 $ pro Aktie und 2023 0,25 $ pro Aktie verteilt wurden.
- Consistent quarterly dividend of $0.0625 per share maintained
- Annualized dividend of $0.25 per share for 2024, matching 2023 levels
- Ongoing operational and financial success supporting dividend payments
- Continued growth through organic development and acquisitions (e.g., Svenska)
- None.
Insights
VAALCO Energy's Q3 2024 dividend declaration of
The dividend yield, while modest, provides a reliable income stream for investors in a volatile energy sector. However, it's important to note that future dividends are subject to board approval, indicating potential flexibility in capital allocation strategies.
The CEO's mention of both organic development and inorganic growth (referencing the Svenska acquisition) hints at a balanced growth strategy. This approach could potentially enhance long-term shareholder value beyond mere dividend payments.
VAALCO's consistent dividend policy amidst its growth initiatives paints a picture of a company balancing shareholder returns with strategic expansion. This approach could appeal to both income-seeking and growth-oriented investors, potentially broadening the company's investor base.
The mention of the Svenska acquisition suggests VAALCO is actively pursuing inorganic growth opportunities. This strategy could lead to increased market share and diversification of assets, which may help mitigate risks associated with the volatile energy sector.
However, investors should closely monitor how these growth initiatives impact the company's ability to maintain its dividend policy in the long term, especially given the cyclical nature of the energy industry.
HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO” or the “Company”) declared its quarterly cash dividend of
George Maxwell, VAALCO’s Chief Executive Officer, commented, “We are pleased to announce our third quarter 2024 dividend which is strongly supported by our ongoing operational and financial success allowing us to continue returning cash to our shareholders through a dividend since early 2022. We paid
About VAALCO
VAALCO, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Cote d’Ivoire, Equatorial Guinea and Canada.
For Further Information
| VAALCO Energy, Inc. (General and Investor Enquiries) | +00 1 713 623 0801 |
| Website: | www.vaalco.com |
| Al Petrie Advisors (US Investor Relations) | +00 1 713 543 3422 |
| Al Petrie / Chris Delange | |
| Buchanan (UK Financial PR) | +44 (0) 207 466 5000 |
| Ben Romney / Barry Archer | VAALCO@buchanan.uk.com |
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “forward-looking information” within the meaning of applicable Canadian securities laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements relating to expectations of future dividends to stockholders. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to the risks described under the caption “Risk Factors” in VAALCO’s 2023 Annual Report on Form 10-K filed with the SEC on March 15, 2024 and subsequent Quarterly Reports on Form 10-Q.
Dividends beyond the third quarter of 2024 have not yet been approved or declared by the Board of Directors. The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on VAALCO’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, crude oil and natural gas prices, and other factors deemed relevant by the Board of Directors. The Board of Directors reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on VAALCO’s common stock, the Board of Directors may revise or terminate the payment level at any time without prior notice.
Inside Information
This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of VAALCO is Matthew Powers, Corporate Secretary of VAALCO.
FAQ
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