GeoPark Announces an Increase on Its Quarterly Cash Dividend to $0.127 Per Share

Rhea-AI Summary

GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.127 per share, totaling $7.5 million, payable on September 8, 2022. This marks a 50% increase from the previous dividend of $0.082 per share declared on June 10, 2022. The Company aims to return value to shareholders while maintaining self-funded work programs and reducing debt.

Positive

• Quarterly dividend increased to $0.127 per share, a 50% rise from the previous dividend.
• Total payout of $7.5 million reflects strong shareholder returns.
• Commitment to self-funded programs and debt reduction enhances company stability.

Negative

• None.

BOGOTA, Colombia--(BUSINESS WIRE)-- GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, announces that its Board of Directors has declared a quarterly cash dividend of $0.127 per share ($7.5 million in the aggregate) payable on September 8, 2022, to the shareholders of record at the close of business on August 25, 2022.

GeoPark is increasing its quarterly dividend for the third time in one year from $0.082 per share ($5.0 million in the aggregate) to $0.127 per share ($7.5 million in the aggregate). This represents an increase of approximately 50% over the dividend paid on June 10, 2022. The Company remains committed to returning value to its shareholders while executing self-funded and flexible work programs and paying down debt.

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

Certain amounts and percentages included in this press release have been rounded for ease of presentation.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the expected dividend payment. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005599/en/

For further information, please contact:

INVESTORS:

Stacy Steimel

Shareholder Value Director

T: +562 2242 9600

ssteimel@geo-park.com

Miguel Bello

Market Access Director

T: +562 2242 9600

mbello@geo-park.com

Diego Gully

Investor Relations Director

T: +5411 4312 9400

dgully@geo-park.com

MEDIA:

Communications Department

communications@geo-park.com

Source: GeoPark Limited

FAQ

What is the amount of the dividend declared by GeoPark (GPRK)?

GeoPark declared a dividend of $0.127 per share.

When will GeoPark's dividend be paid out?

The dividend will be paid on September 8, 2022.

What was the previous dividend amount for GeoPark (GPRK)?

The previous dividend amount was $0.082 per share.

What is the total dividend payout for GeoPark (GPRK) this quarter?

The total dividend payout for this quarter is $7.5 million.

How often does GeoPark (GPRK) pay dividends?

GeoPark pays dividends quarterly.