Pioneer Natural Resources Declares Second Quarter Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) announced a quarterly cash dividend of $3.34 per common share, payable on June 21, 2023 to stockholders of record by the close of business on June 1, 2023. This dividend comprises a base plus a variable component, reflecting the company's financial performance and free cash flow, which is influenced by commodity prices and operational results.

The decision on future dividends will be solely at the discretion of the Board of Directors, considering factors such as the company's liquidity, capital resources, and cash reserves. There is no assurance that future dividends will be declared or the amount of any such dividends, as they may fluctuate based on operational cash flow.

Positive

• Quarterly cash dividend of $3.34 per share indicates strong financial performance.
• Dividend payment demonstrates company confidence in cash flow management.

Negative

• Future dividends are uncertain and dependent on commodity prices and operational results.

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 $3.34 per common share. The dividend is payable June 21, 2023, to stockholders of record at the close of business on June 1, 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/20230426005843/en/

Pioneer Natural Resources Contacts:

Investors

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 for June 2023?

Pioneer Natural Resources declared a dividend of $3.34 per share for June 2023.

When will the dividend be paid to shareholders?

The dividend will be paid on June 21, 2023.

Who is eligible to receive the dividend from Pioneer Natural Resources?

Stockholders of record at the close of business on June 1, 2023, are eligible to receive the dividend.

What factors influence the future dividend payments by Pioneer Natural Resources?

Future dividends are influenced by the company's liquidity, capital resources, and free cash flow.

What does the variable component of the dividend depend on?

The variable component of the dividend depends on the company's free cash flow, which is subject to commodity price fluctuations.