Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2024 Financial and Operating Results; Increases Base Dividend

About this update from Diamondback Energy, Inc.

[{"type":"image","alt":"Diamondback Energy, Inc.","displaySize":"","headline":null,"caption":"Diamondback Energy, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":110,"url":"https://media.zenfs.com/en/globenewswire.com/faf4aac5d0aa874442b6a2b9cd14d5dd"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/S8Hi.rqcurZoC7.8sf_Abg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE1NDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/faf4aac5d0aa874442b6a2b9cd14d5dd","width":300,"height":110}},"lazy":false},{"type":"text","content":"MIDLAND, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2024.","length":237,"tagName":"p"},{"type":"text","content":"FOURTH QUARTER 2024 HIGHLIGHTS","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Average production of 475.9 MBO/d (883.4 MBOE/d)","length":48,"tagName":"p"}]},{"val":[{"type":"text","content":"Net cash provided by operating activities of $2.3 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $2.3 billion","length":159,"tagName":"p"}]},{"val":[{"type":"text","content":"Cash capital expenditures of $933 million","length":41,"tagName":"p"}]},{"val":[{"type":"text","content":"Free Cash Flow (as defined and reconciled below) of $1.3 billion; Adjusted Free Cash Flow (as defined and reconciled below) of $1.4 billion","length":139,"tagName":"p"}]},{"val":[{"type":"text","content":"Increased annual base dividend by 11% to $4.00 per share; declared Q4 2024 base cash dividend of $1.00 per share payable on March 13, 2025; implies a 2.6% annualized yield based on February 21, 2025 closing share price of $156.12","length":239,"tagName":"p"}]},{"val":[{"type":"text","content":"Repurchased 2,326,247 shares of common stock in Q4 2024 for $402 million, excluding excise tax (at a weighted average price of $172.91 per share); repurchased 1,254,600 shares of common stock to date in Q1 2025 for $210 million, excluding excise tax (at a weighted average price of $167.42 per share)","length":300,"tagName":"p"}]},{"val":[{"type":"text","content":"Total Q4 2024 return of capital of $694 million; represents ~51% of Adjusted Free Cash Flow (as...

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