Pioneer Natural Resources Declares First Quarter Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) has declared a quarterly base-plus-variable cash dividend of $5.58 per common share. This dividend will be payable on March 17, 2023, to stockholders of record by the close of business on March 6, 2023. The decision regarding future dividends remains at the Board's discretion, influenced by liquidity, capital resources, and anticipated performance. The company notes that future variable dividends will depend on free cash flow, which is affected by external factors like commodity prices.

Positive

• Declared a quarterly cash dividend of $5.58 per share, signaling strong cash flow management.
• Positive cash reserves may enhance shareholder returns.

Negative

• Future dividends are not guaranteed and depend on Board decisions.
• Variable dividends may fluctuate based on external commodity 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 $5.58 per common share. The dividend is payable March 17, 2023, to stockholders of record at the close of business on March 6, 2023.

About Pioneer

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 base or variable, 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 maintains to fund future capital expenditures or other needs, and other factors that 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 commodity 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, less capital expenditures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005894/en/

Investors

Tom Fitter – 972-969-1821

Greg Wright – 972-969-1770

Chris Leypoldt – 972-969-5834



Media and Public Affairs

Christina Voss – 972-969-5706

Source: Pioneer Natural Resources Company

FAQ

What is the dividend amount declared by Pioneer Natural Resources in March 2023?

Pioneer Natural Resources declared a dividend of $5.58 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on March 17, 2023.

What is the record date for the dividend payment?

The record date is March 6, 2023.

Are future dividends from Pioneer Natural Resources guaranteed?

No, future dividends are subject to Board approval and various financial considerations.

What factors influence the variable dividends declared by Pioneer Natural Resources?

Variable dividends depend on the company's free cash flow, which is influenced by commodity prices and other market factors.