Epsilon Energy (EPSN) Declares $0.0625 Quarterly Dividend; Announces Buyback

Epsilon Energy (NASDAQ: EPSN) declared a quarterly dividend of $0.0625 per share, or $0.25 annualized.

The dividend will be payable on March 31, 2022, to stockholders of record on March 8, 2022, with an ex-dividend date of March 7, 2022.

The annual yield on the dividend is 4.3 percent.

One-Year Share Repurchase Authorization

The Board of Directors also authorized the repurchase of up to 1,183,410 of the outstanding common shares, representing 5% of the outstanding common shares of Epsilon, for an aggregate purchase price of not more than US $8.0 million, pursuant to a normal course issuer bid, during the one-year period commencing on March 8, 2022. The program will end on March 7, 2023 unless the maximum amount of common shares is purchased before then or Epsilon provides earlier notice of termination.

Repurchases may be made at management’s discretion from time to time through the facilities of the NASDAQ Global Market. The price paid for the common shares will be, subject to applicable securities laws, the prevailing market price of such common shares on the NASDAQ Global Market at the time of such purchase. The Company intends to fund the purchase out of available cash and does not expect to incur debt to fund the share repurchase program.

Epsilon believes that the market price of its common shares may not reflect their underlying value and the Board of Directors has authorized this initiative because, in the Board’s opinion, the proposed repurchase of common shares constitutes an appropriate use of Epsilon’s funds, and the repurchase of its common shares is one way of creating shareholder value. To the knowledge of Epsilon, no director, senior officer or other insider of the Epsilon currently intends to sell any common shares under the normal course issuer bid. However, sales by such persons through the facilities of the NASDAQ Global Market may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these repurchases. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.

For a dividend history and other dividend-related data on Epsilon Energy (EPSN) click here.

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