Press release
APA Corporation Announces Dividend Increase, Declares Cash Dividend on Common Shares and Increases Share Repurchase Authorization
HOUSTON, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The board of directors of APA Corporation (Nasdaq: APA) has announced an increase in the company’s dividend on
About this update from Apa Corporation
[{"type":"text","content":"HOUSTON, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The board of directors of APA Corporation (Nasdaq: APA) has announced an increase in the company’s dividend on common shares from an annualized rate of 50 cents per share to $1.00 per share. The next quarterly dividend on common shares is payable Nov. 22, 2022, to stockholders of record on Oct. 21, 2022, at a rate of 25 cents per share on the company’s common stock, up from 12.5 cents per share. “Over the last year, we’ve significantly strengthened our balance sheet and committed to returning a minimum of 60% of free cash flow to our shareholders through dividend and stock repurchases,” said John Christmann IV, APA CEO and president. “The vast majority of this return is still being delivered through stock repurchases; however, we are confident that our long-term cash flow will comfortably support this step-up in the base dividend payment. At an annualized rate of $1.00 per share, our dividend yield is expected to exceed the current average dividend yield of the S&P 500.” The board of directors also approved a further 40 million shares of additional share repurchase authorization. About APA APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and in the Dominican Republic. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com. Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “continues,” “could,” “estimates,” “expects,” “guidance,” “may,” “might,” “outlook,” “possibly,” “potential,” “projects,” “prospects,” “should,” “will,” “would,” and similar references to future periods, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for operations, inc...