Northern Oil and Gas, Inc. Declares Cash Dividend on its Common Stock, Increased 78% Over Prior Quarter

Rhea-AI Summary

Northern Oil and Gas, Inc. (AMEX: NOG) has declared a cash dividend of $0.08 per share, marking a 78% increase from the previous dividend of $0.06. This dividend will be paid on January 31, 2022, to stockholders recorded by December 30, 2021. The decision reflects the company’s improved free cash flow profile and robust balance sheet, as stated by CFO Chad Allen.

Positive

• Dividend increased by 78% to $0.08 per share, indicating strong confidence in business outlook.
• The increase is attributed to improved free cash flow and a strong balance sheet.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that its Board of Directors has declared a cash dividend on the Company’s common stock in the amount of $0.08 per share, representing a 78% increase from the prior quarterly dividend. The dividend is payable on January 31, 2022, to stockholders of record as of the close of business on December 30, 2021.

MANAGEMENT COMMENT

“Based on our confidence in the business outlook, the Board declared a dividend above our prior plan of $0.06 per share,” commented Chad Allen, Northern’s Chief Financial Officer. “This is a function of the continued improvement in the Company’s free cash flow profile and the strength of our balance sheet.”

ABOUT NORTHERN OIL AND GAS

Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211111006078/en/

Mike Kelly, CFA

Chief Strategy Officer

952-476-9800

ir@northernoil.com

Source: Northern Oil and Gas, Inc.

FAQ

What is the new dividend amount for Northern Oil and Gas (NOG)?

The new dividend amount is $0.08 per share.

When will Northern Oil and Gas (NOG) pay the dividend?

The dividend will be paid on January 31, 2022.

What was the previous dividend amount for Northern Oil and Gas (NOG)?

The previous dividend amount was $0.06 per share.

Who are the stockholders of record for the NOG dividend?

The stockholders of record are those registered by the close of business on December 30, 2021.