VAALCO Energy Declares Initial Quarterly Dividend

VAALCO Energy, Inc. declared its inaugural quarterly cash dividend of $0.0325 per share of common stock for the first quarter of 2022 ($0.13 annualized), which is payable March 18, 2022 to stockholders of record at the close of business on February 18, 2022. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

George Maxwell, VAALCO’s Chief Executive Officer, commented, "In the current environment, we believe that it is important for E&P companies to demonstrate a commitment to shareholder returns. The declaration of our first cash dividend and implementation of a sustainable, quarterly cash dividend reflects the strength of our business, our robust balance sheet and ability to generate meaningful free cash flow moving forward. We are excited about the future for VAALCO with the continued development of our interests in offshore Gabon, upside opportunities in Equatorial Guinea and the potential to integrate accretive acquisitions aimed at further strengthening VAALCO and growing shareholder value."