Pioneer Natural Resources Declares Third Quarter Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) declared a quarterly cash dividend of $8.57 per common share, to be paid on September 16, 2022. Stockholders on record by September 6, 2022 will be eligible for this dividend. The company emphasizes that future dividends depend on various factors, including cash reserves and operational results, and cannot guarantee future payments or amounts. The cash flow is influenced by commodity prices and other uncontrollable factors.

Positive

• Quarterly cash dividend of $8.57 enhances shareholder returns.
• Demonstrates strong cash flow and profitability.

Negative

• Future dividends are uncertain and depend on market conditions.
• Fluctuations in cash flow will affect variable dividends.

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 $8.57 per common share. The dividend is payable September 16, 2022, to stockholders of record at the close of business on September 6, 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 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/20220802006001/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

Christina Voss – 972-969-5706

Source: Pioneer Natural Resources Company

FAQ

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

Pioneer Natural Resources declared a dividend of $8.57 per common share.

When will the dividend for Pioneer Natural Resources (PXD) be paid?

The dividend will be paid on September 16, 2022.

What is the record date for the dividend payment for PXD?

The record date for the dividend payment is September 6, 2022.

Are future dividends for PXD guaranteed?

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

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

The dividend amount is determined by the Board based on liquidity, cash reserves, and operational results.