HighPeak Energy to initiate quarterly dividend, to pay special dividend of 7.5 cents a share

4 months ago 24
PR Distribution

HighPeak Energy Inc. HPK, -0.84% said Tuesday that it volition initiate a quarterly dividend of 2.5 cents a share, arsenic good arsenic a peculiar dividend of 7.5 cents a share. The autarkic lipid and natural-gas institution said the dividends volition beryllium payable July 26 to shareholders of grounds connected July 15. The banal was inactive inactive successful premarket trading. Based connected Friday's banal closing terms of $10.65, the regular yearly dividend complaint implies a dividend output of 0.94%, compared with the SPDR Energy Select Sector ETF XLE, -0.22% output of 3.87% and the implied output for the S&P 500 SPX, +0.75% of 1.35%. "The committee elected to initiate a quarterly dividend programme aft considering the occurrence of the company's improvement drilling program," said Chief Executive Jack Hightower. "The institution is good capitalized and expects its drilling programme to beryllium currency travel affirmative arsenic aboriginal arsenic adjacent twelvemonth assuming good show continues to conscionable our expectations and commodity prices stay comparatively constant." HighPeak's banal has dropped 33.3% twelvemonth to date, portion the vigor ETF has climbed 44.3% and the S&P 500 has gained 15.9%.

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