Pioneer Natural Resources Declares Second Quarter Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) has declared a quarterly cash dividend of $7.38 per common share, payable on June 14, 2022, to stockholders of record as of May 31, 2022. The decision regarding future dividends is at the discretion of the Board of Directors and will depend on various factors including the Company's liquidity, operating results, and cash flow. There is no guarantee that future dividends will be authorized or the amount thereof, as they may fluctuate based on the Company’s free cash flow, which is influenced by factors beyond its control.

Positive

• Quarterly cash dividend of $7.38 per share announced.

Negative

• Future dividends are not guaranteed and depend on liquidity and cash flow.

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 $7.38 per common share. The dividend is payable June 14, 2022, to stockholders of record at the close of business on May 31, 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, less capital expenditures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220504006020/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)?

The dividend amount is $7.38 per common share.

When is the dividend for PXD payable?

The dividend is payable on June 14, 2022.

What is the record date for Pioneer Natural Resources dividend?

The record date is May 31, 2022.

Are future dividends guaranteed for PXD?

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

How is the dividend amount for PXD determined?

The dividend amount is determined at the discretion of the Board of Directors based on liquidity and cash flow.