...declared a regular cash dividend on the company's common shares, increasing the quarterly dividend rate to 6.25 cents per share, up from 2.5 cents per share.
The dividend on APA common shares is payable Nov. 22, 2021, to stockholders of record on Oct. 22, 2021. On an annualized basis, the dividend increases to 25 cents per share, up 150% from the previous annualized level of 10 cents per share.
“APA’s dividend increase represents a prudent first step on our path to returning a higher percentage of cash flow to our shareholders. This follows the considerable progress we are making this year on debt reduction. The new dividend returns an additional $57 million to our shareholders annually, an amount that is more than funded by the interest expense savings associated with our recent $1.7 billion debt tender,” said John J. Christmann IV, APA’s CEO and president. “We have confidence in the quality of our underlying core assets and the long-term sustainability of their free cash flow generating capacity. We look forward to demonstrating that to the market and to further increasing the dividend as we continue to make progress on debt reduction.”
...declared a regular cash dividend on the company's common shares, increasing the quarterly dividend rate to 6.25 cents per share, up from 2.5 cents per share.
The dividend on APA common shares is payable Nov. 22, 2021, to stockholders of record on Oct. 22, 2021. On an annualized basis, the dividend increases to 25 cents per share, up 150% from the previous annualized level of 10 cents per share.
“APA’s dividend increase represents a prudent first step on our path to returning a higher percentage of cash flow to our shareholders. This follows the considerable progress we are making this year on debt reduction. The new dividend returns an additional $57 million to our shareholders annually, an amount that is more than funded by the interest expense savings associated with our recent $1.7 billion debt tender,” said John J. Christmann IV, APA’s CEO and president. “We have confidence in the quality of our underlying core assets and the long-term sustainability of their free cash flow generating capacity. We look forward to demonstrating that to the market and to further increasing the dividend as we continue to make progress on debt reduction.”