2024-01-26 00:00:40 ET
Summary
- SandRidge declared a one-time dividend of $1.50 per share and plans to increase its quarterly dividend to $0.11 per share starting in March 2024.
- This adds up to approximately $71 million in 2024 dividend payments.
- I project SandRidge's 2024 free cash flow at $60 million at current strip.
- It would then end 2024 with around $235 million to $240 million in net cash.
- SandRidge's production will decline in this scenario though due to limited development activity.
SandRidge Energy ( SD ) recently declared that it was increasing its quarterly dividend by 10% and issuing a special dividend of $1.50 per share for February 2024. I project SandRidge's expected dividend payments to modestly exceed its free cash flow in 2024 at current strip prices. SandRidge should still end 2024 with over $6 per share in cash on hand though if it doesn't make any major investments....
Read the full article on Seeking Alpha
For further details see:
SandRidge Energy Announces A $1.50 Per Share Special Dividend