Liberty Energy Announces 40% Increase in Quarterly Cash Dividend

Rhea-AI Summary

Liberty Energy Inc. announces a 40% increase in dividend per share of Class A common stock.

Positive

• Liberty Energy Inc. has declared a dividend of $0.07 per share of Class A common stock, representing a 40% increase from the prior quarter.
• The increase in dividend is in response to the significant growth in per share earnings and cash generating abilities from the company's business transformation over the last three years.

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• None.

DENVER--(BUSINESS WIRE)-- Liberty Energy Inc. (NYSE: LBRT; “Liberty” or the “Company”) announced today that its Board of Directors (the “Board”) has declared a dividend of $0.07 per share of Class A common stock, to be paid on December 20, 2023 to holders of record as of December 6, 2023. This dividend represents a 40% increase from the prior quarter.

“Our investment in differential technologies and innovative businesses build on our competitive advantage and expand our market opportunities,” commented Chris Wright, Chief Executive Officer. “We are increasing our quarterly cash dividend by 40% in response to the significant growth in our per share earnings and cash generating abilities from our business transformation over the last three years.”

Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.

About Liberty

Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at IR@libertyenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017998237/en/

Michael Stock

Chief Financial Officer

Anjali Voria, CFA

Strategic Finance & Investor Relations Lead

303-515-2851

IR@libertyenergy.com

Source: Liberty Energy Inc.

FAQ

What is the dividend per share of Class A common stock declared by Liberty Energy Inc.?

Liberty Energy Inc. has declared a dividend of $0.07 per share of Class A common stock.

How much is the increase in dividend compared to the prior quarter?

The dividend represents a 40% increase from the prior quarter.

Why is Liberty Energy Inc. increasing its dividend?

The increase in dividend is in response to the significant growth in per share earnings and cash generating abilities from the company's business transformation over the last three years.

Are future declarations of quarterly cash dividends guaranteed?

Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and the Board's determination that the declarations of dividends are in the best interests of Liberty and its stockholders.

Can future dividends be adjusted?

Future dividends may be adjusted at the Board's discretion based on market conditions and capital availability.