Pioneer Natural Resources Declares First Quarter Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) declared a quarterly cash dividend of $3.78 per share on its outstanding common stock, payable on March 14, 2022, to stockholders of record by February 28, 2022. This announcement reflects the Company's ongoing commitment to returning value to shareholders. However, future dividends are subject to the Board of Directors' discretion, taking into account various factors such as liquidity, operating results, and cash reserves. The Company does not guarantee future dividend payments.

Positive

• Declared a quarterly cash dividend of $3.78 per share, reflecting strong shareholder returns.

Negative

• Future dividends are not guaranteed and depend on several factors including operating results and commodities prices.

DALLAS--(BUSINESS WIRE)-- Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) announced today that its Board of Directors declared a quarterly base-plus-variable cash dividend of $3.78 per share on Pioneer’s outstanding common stock. The dividend is payable March 14, 2022, to stockholders of record at the close of business on February 28, 2022.

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.

Note: Future dividends, whether variable or base, are authorized and determined by the Company's Board of Directors in its sole discretion. Decisions regarding the payment of dividends are subject to a number of considerations at the time, including without limitation the Company's liquidity and capital resources, the Company's results of operations and anticipated future results of operations, the level of cash reserves the Company may establish to fund future capital expenditures or other needs, and other factors the Board of Directors deems relevant. The Company can provide no assurance that dividends will be authorized or declared in the future or the amount of any future dividends. Any future variable dividends, if declared and paid, will by their nature fluctuate based on the Company’s free cash flow¹, which will depend on a number of factors beyond the Company’s control, including commodities prices.

Footnote 1: As used by the Company, free cash flow is defined as net cash provided by operating activities, adjusted for changes in operating assets and liabilities and cash acquisition transaction costs, less capital expenditures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220216005997/en/

Pioneer Natural Resources Contacts:

Investors

Neal Shah – 972-969-3900

Tom Fitter – 972-969-1821

Greg Wright – 972-969-1770

Chris Leypoldt – 972-969-5834

Media and Public Affairs

Tadd Owens – 972-969-5760

Source: Pioneer Natural Resources Company

FAQ

What is the dividend amount for Pioneer Natural Resources (PXD)?

Pioneer Natural Resources has declared a quarterly dividend of $3.78 per share.

When is the dividend payable for PXD?

The dividend is payable on March 14, 2022.

Who is eligible for the PXD dividend?

Stockholders of record as of the close of business on February 28, 2022, are eligible.

Are future dividends guaranteed for PXD?

No, future dividends are subject to the Board's discretion and various business factors.

What factors affect the variable dividends for PXD?

Variable dividends depend on the Company's free cash flow and market conditions.