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Here is a selection of upstream and service and supply companies’ dividends declared in the week of May 20, as well as some dividends from the previous week.
Upstream
APA
APA Corp.’s board of directors declared on May 22 a regular cash dividend of $0.25 per share of common stock.
The dividend will be payable on Aug. 22 to stockholders of record as of July 22.
Enerplus
Enerplus Corp., which is merging with Chord Energy Corp., announced a special cash dividend in connection with the Chord transaction on May 23. The dividend of approximately US$0.23 per share will be payable to shareholders of record at close of business on May 30.
The dividend is intended to equalize quarterly dividends declared by Enerplus with quarterly dividends declared by Chord following the companies’ March 2024 dividends.
Payment of the dividend will be eligible for Enerplus shareholders on June 4, whether the transaction is complete or not. The merger is on track to close on May 31.
The special dividend is in addition to Enerplus' quarterly cash dividend of US$0.065 per share, which was declared on May 7 and will be payable on June 4 to shareholders of record on May 22.
Granite Ridge
Granite Ridge Resources declared a regular quarterly cash dividend on May 15.
The non-operated E&P’s dividend will be $0.11 per share and payable on June 14 to shareholders of record as of May 31.
Hess Corp.
E&P Hess Corp. declared a regular quarterly dividend of approximately $0.44 per share, payable on Hess’ common stock on June 28 to shareholders of record as of June 14.
PHX Minerals
PHX Minerals board of directors declared on May 20 a quarterly dividend of $0.03 per share on PHX’s common stock.
The dividend is payable on June 11 to shareholders of record as of May 31.
Service and supply
NOV
NOV’s board of directors declared a 50% increase on the company’s regular quarterly cash dividend on May 16.
The $0.075 per share dividend on its common stock is payable on June 28 to shareholders of record as of June 14.
The increase in the company’s dividend is on par with NOV’s capital framework announced in April to return 50% of excess free cash flow to shareholders. Returns will be in the form of quarterly base dividends, opportunistic stock buybacks and an annual supplemental dividend to true-up returns to shareholders on an annual basis, according to NOV's May 16 press release.
Superior Plus
Superior Plus Corp.’s board of directors approved a quarterly dividend for the second quarter on May 14.
The dividend is CA$0.18 per common share and payable on July 15 to shareholders of record as of the close of business on June 28.
Annualized, Superior’s annualized cash dividend rate is CA$0.72 per share.
Superior Plus is a North American distributor of propane, compressed natural gas, renewable energy and related products and services.
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