VAALCO Energy, Inc. Declares Quarterly Dividend

Source: www.gulfoilandgas.com 2/26/2024, Location: North America

VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO”) declared its quarterly cash dividend of $0.0625 per share of common stock for the first quarter of 2024 ($0.25 annualized), which is payable on March 28, 2024, to stockholders of record at the close of business on March 8, 2024. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

George Maxwell, VAALCO’s Chief Executive Officer, commented, “Our ongoing focus on operational excellence and enhancing the productivity of our diverse asset base has allowed us to continue returning cash to our shareholders through a dividend. We paid $0.13 per share in 2022, $0.25 per share in 2023 and with this declaration, we are on track to deliver another $0.25 per share in 2024. While we are returning meaningful cash flow to our shareholders through dividends and share buybacks, we continue to grow our cash position and had over $120 million in cash on hand at December 31, 2023. We are excited about the future and the ability of our premier assets to generate strong operational and financial results allowing us to successfully execute on our strategic vision.”


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