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Matador Resources Company Amends Quarterly Cash Dividend Policy; Doubles Quarterly Dividend From $0.05 To $0.10/Share

Matador Resources Company (NYSE:MTDR) ("Matador" or the "Company") today announced that its Board of Directors amended the Company's dividend policy pursuant to which the Company intends to pay

Benzinga · 06/10/2022 06:31

Matador Resources Company (NYSE:MTDR) ("Matador" or the "Company") today announced that its Board of Directors amended the Company's dividend policy pursuant to which the Company intends to pay quarterly cash dividends on its common stock of $0.10 per share, which is an increase from its prior policy of $0.05 per share initiated in October 2021. The Company anticipates that the Board will implement such amended policy in connection with the declaration of its next quarterly dividend, which is expected during the third quarter of 2022.

Joseph Wm. Foran, Matador's Founder, Chairman and Chief Executive Officer, stated, "We are pleased to announce the Board's adoption of a new dividend policy to double our quarterly dividend again. This change in our dividend policy is a reflection of our growing financial and operational strength and our increasing resolve to reduce debt and to return value to our shareholders. We are pleased to have this opportunity to return value to shareholders while we remain committed to profitable growth of our business at a measured pace. We look forward to providing an update soon on our operations and 2022 outlook during our Annual Meeting of Shareholders later today and are truly grateful for the support and friendship of our shareholders and our continued good performance in the market."