Diamondback Energy Increases Quarterly Dividend to $1.18 Per Share
Diamondback Energy (FANG) has announced a 7.3% increase in its quarterly dividend, raising the payout from $1.10 to $1.18 per share. This move follows strong financial performance where the company reported non-GAAP earnings per share of $5.86, exceeding analyst expectations by $0.26, and revenue of $5.43 billion, which beat estimates by $520 million. The dividend is scheduled to be paid on November 19, with a record date and ex-dividend date set for November 12. The increase reflects the company's robust cash flow position and its strategic focus on maximizing shareholder returns amidst evolving dynamics in the Permian Basin.
Topics: dividends earnings report oil and gas revenue
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