GeoPark Announces Doubling Its Quarterly Cash Dividend to $0.082 Per Share

Rhea-AI Summary

GeoPark Limited (NYSE: GPRK) has declared a quarterly cash dividend of $0.082 per share, totaling $5.0 million, payable on March 31, 2022. This marks a significant increase from the previous dividend of $0.041 per share, reflecting a 300% rise since May 28, 2021. The Company emphasizes its commitment to delivering shareholder value while maintaining self-funded operations and reducing debt.

Positive

• Dividend increased by 300% from $0.041 to $0.082 per share.
• Total dividend payout of $5.0 million shows commitment to shareholder value.
• Self-funded work programs in place alongside debt reduction efforts.

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 $0.082 per share ($5.0 million in the aggregate) payable on March 31, 2022 to the shareholders of record at the close of business on March 24, 2022.

GeoPark is doubling its quarterly dividend for the second time in less than a year from $0.041 per share ($2.5 million in the aggregate) to $0.082 per share ($5.0 million in the aggregate). This represents a 300% increase over the dividend paid on May 28, 2021. 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/20220308006325/en/

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 dividend amount declared by GeoPark (GPRK)?

GeoPark has declared a quarterly cash dividend of $0.082 per share.

When will the dividend be paid to shareholders of GeoPark (GPRK)?

The dividend will be payable on March 31, 2022.

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

The previous dividend amount was $0.041 per share.

How much total dividend will GeoPark (GPRK) distribute?

GeoPark will distribute a total of $5.0 million in dividends.

How often does GeoPark (GPRK) declare dividends?

GeoPark declares dividends quarterly.