Matador Resources Company announced that its Board of Directors revised and amended the Company’s dividend policy. Pursuant to the new policy, the Company intends to pay cash dividends on its common stock of $0.25 per share per quarter, or $1.00 per share per year, beginning in the fourth quarter of 2024, which is a 25% increase from its prior policy of $0.20 per share per quarter. The Board also declared a quarterly cash dividend of $0.25 per share of common stock to begin this quarter payable on December 6, 2024, to shareholders of record as of November 15, 2024.
Joseph Wm. Foran, Matador’s Founder, Chairman and Chief Executive Officer, stated, “We are pleased to announce a fifth increase in the Company’s quarterly cash dividend in the last four years. Today’s announcement is a 25% increase from Matador’s prior quarterly cash dividend of $0.20 per share per quarter to $0.25 per share per quarter, or $1.00 per share per year. The continued and regular increase in our quarterly cash dividend is evidence of our commitment to return value to Matador’s shareholders as well as our growing financial strength and positive operational outlook. We are grateful for the continued support and friendship of our shareholders and look forward to paying this anticipated dividend to our shareholders on December 6, 2024.”
