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GeoPark Announces Extraordinary Cash Dividend Quarterly Cash Dividend

Source: www.gulfoilandgas.com 11/4/2020, Location: South America

GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador announced its Board of Directors has declared an extraordinary cash dividend of $0.0206 per share for 2020 and a quarterly dividend of $0.0206 per share, both payable on December 9, 2020. In addition, the Board of Directors has approved a buyback program to repurchase up to 10% of its shares outstanding, or approximately 6,062,000 shares.

Extraordinary Cash Dividend
- The Board of Directors has declared an extraordinary cash dividend of $0.0206 per share ($1.25 million in the aggregate) payable on December 9, 2020 to the shareholders of record at the close of business on November 20, 2020

Quarterly Cash Dividend
- The Board of Directors has declared a quarterly cash dividend of $0.0206 per share ($1.25 million in the aggregate) payable on December 9, 2020 to the shareholders of record at the close of business on November 20, 2020

Share Buyback Program
- The buyback program will begin on November 5, 2020 and will expire on November 15, 2021
- The share repurchases may be made from time to time through open market transactions, block trades, privately negotiated transactions or otherwise and are subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, regulatory, and other relevant factors

As detailed in our 2021 Work Program and Investment Guidelines, GeoPark plans to deliver another year of strong operational and financial performance and free cash flow generation while remaining committed to returning value to its shareholders.

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