Pioneer Natural Resources Declares Fourth Quarter Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) declared a quarterly cash dividend of $5.71 per share, payable on December 15, 2022, to shareholders of record on November 30, 2022. This dividend consists of a base-plus-variable component, reflecting the company's performance. However, future dividends depend on various factors, including liquidity and capital resources. The Board of Directors retains full discretion on dividend payments, underscoring potential variability based on the company's free cash flow and market conditions.

Positive

• Quarterly cash dividend of $5.71 per share demonstrates strong shareholder returns.

Negative

• Future dividends are not guaranteed and depend on several financial factors, including market conditions.

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 $5.71 per common share. The dividend is payable December 15, 2022, to stockholders of record at the close of business on November 30, 2022.

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 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, less capital expenditures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221027006014/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 PXD?

PXD declared a quarterly cash dividend of $5.71 per share.

When will PXD pay the dividend?

The dividend will be payable on December 15, 2022.

What is the record date for PXD's dividend?

The record date for the dividend is November 30, 2022.

Are future dividends for PXD guaranteed?

No, future dividends are not guaranteed and depend on various financial considerations.

How does PXD determine its variable dividend?

PXD's variable dividend is based on its free cash flow, which is influenced by market conditions.