HPK - HighPeak Energy Inc. Announces Quarterly Dividend Increase and $75 Million Share Repurchase Authorization | Benzinga
FORT WORTH, Texas, Feb. 05, 2024 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. ("HighPeak" or the "Company") (NASDAQ:HPK) today announced a 60 percent increase to its quarterly dividend to $0.04 per share and a $75 million share repurchase authorization.
Quarterly Dividend
The Company's Board of Directors declared a quarterly dividend of $0.04 per share to be paid on March 25, 2024 to stockholders of record on March 1, 2024.
Stock Repurchase Program
HighPeak's Board of Directors approved a repurchase program of up to $75 million of the Company's common shares. The approval grants HighPeak's management the authority to repurchase shares opportunistically in the open market from time to time, through block trades, in privately negotiated transactions or by such other means which comply with applicable state and federal laws. This is the Company's first authorization for a stock repurchase program since its founding.
The Company intends to fund the repurchases from available working capital, cash provided from operations and borrowings under ...