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E&P Riley Exploration Permian Inc.’s board of directors approved a $0.36 per share cash dividend on the company’s common stock, the company announced Jan. 16.
The dividend, the company's 20th consecutive distribution, will be payable on Feb. 8 to stockholders of record as of the close of business on Jan. 25.
The Permian Basin E&P also announced it had reduced the principal value of its outstanding debt by $30 million during fourth quarter 2023 with available cash on hand. As of Dec. 31, 2023, the company had a principal balance of $815 million on senior unsecured notes, outstanding borrowings of $185 million under its credit facility and $190 million of undrawn capacity.
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