GeoPark Announces Quarterly Cash Dividend of $0.041 Per Share

Rhea-AI Summary

GeoPark Limited (NYSE: GPRK) has announced a quarterly cash dividend of $0.041 per share, totaling $2.5 million, to be paid on August 31, 2021. This marks a significant increase, doubling from the previous dividend of $0.0205 per share, or $1.25 million in the aggregate. This decision reflects the Company's commitment to deliver shareholder value while pursuing self-funded growth and reducing debt.

Positive

• Dividend increased from $0.0205 to $0.041 per share, doubling shareholder returns.
• Total dividend payment of $2.5 million demonstrates strong cash flow management.

Negative

• None.

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina today announced its Board of Directors has declared its quarterly cash dividend of $0.041 per share ($2.5 million in the aggregate) payable on August 31, 2021 to the shareholders of record at the close of business on August 17, 2021.

GeoPark is doubling its quarterly dividend from $0.0205 per share ($1.25 million in the aggregate) to $0.041 per share ($2.5 million in the aggregate). 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 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 expected future financial performance and free cash flow generation. 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/20210804006143/en/

FAQ

What is the new dividend amount for GeoPark Limited (GPRK)?

GeoPark Limited has increased its quarterly dividend to $0.041 per share.

When is the dividend payment date for GeoPark Limited (GPRK)?

The dividend payment date is set for August 31, 2021.

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

The previous dividend amount was $0.0205 per share.

How much will GeoPark Limited (GPRK) pay in total dividends?

GeoPark Limited will pay a total of $2.5 million in dividends.