Pioneer Natural Resources Increases Base Dividend on Common Shares

Rhea-AI Summary

Pioneer Natural Resources Company (NYSE:PXD) has announced a quarterly cash base dividend increase from $0.56 to $0.62 per share, an increase of over 10%. The new dividend is payable on January 14, 2022, to stockholders of record as of December 31, 2021, translating to an annualized rate of $2.48 per share. This dividend increase reflects the company’s confidence in its financial stability and future prospects.

Positive

• Increase in quarterly cash dividend from $0.56 to $0.62 per share, representing a greater than 10% increase.
• Annualized dividend now totals $2.48 per share, enhancing shareholder income.

Negative

• Future dividend payments are uncertain and depend on several factors, including liquidity and capital resources.

DALLAS--(BUSINESS WIRE)-- Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) announced today that its Board of Directors approved an increase in the Company’s quarterly cash base dividend from $0.56 per share to $0.62 per share on Pioneer’s outstanding common stock (equivalent to $2.48 per share on an annualized basis), representing a greater than 10% increase. The quarterly base dividend of $0.62 per share is payable January 14, 2022, to stockholders of record at the close of business on December 31, 2021.

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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103006107/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 new dividend amount for Pioneer Natural Resources (PXD)?

Pioneer's new quarterly cash base dividend is $0.62 per share.

When is the dividend for PXD payable?

The dividend is payable on January 14, 2022.

What was the previous dividend amount for PXD before the increase?

The previous dividend amount was $0.56 per share.

What is the annualized dividend amount for PXD after the increase?

The annualized dividend amount is now $2.48 per share.

Will PXD continue to pay dividends in the future?

Future dividends are determined by the Board of Directors and are subject to various considerations.