WTI - W&T Offshore Announces Implementation of Quarterly Cash Dividend | Benzinga
HOUSTON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced that its Board of Directors has approved the implementation of a quarterly cash dividend payable to holders of its common stock. The initial cash dividend of $0.01 per share of common stock will be payable on December 22, 2023, to shareholders of record at the close of business on November 28, 2023.
Tracy W. Krohn, W&T's Board Chair and Chief Executive Officer, commented, "We have maintained our commitment to a highly successful strategy sharply focused on free cash flow generation for many years now. As a result of our strong asset base and operational execution, our balance sheet is in excellent condition with significant cash on hand. We felt now was the right time to return a portion of the strong cash flow we generate each quarter directly to our shareholders to enhance the return on their investment. We are very pleased to implement a cash dividend program with an initial cash payment in December."
About W&T Offshore
W&T Offshore, Inc. is an independent oil and natural gas producer with ...