APA Corporation (APA) Raises Quarterly Dividend 100% to $0.25; Announce 40M Share Buyback Plan

APA Corporation (NASDAQ: APA) declared a quarterly dividend of $0.25 per share, or $1 annualized. This is a 100% increase from the prior dividend of $0.125. The dividend will be payable on November 22, 2022, to stockholders of record on October 21, 2022, with an ex-dividend date of October 20, 2022. The annual yield on the dividend is 2.4 percent.

“Over the last year, we’ve significantly strengthened our balance sheet and committed to returning a minimum of 60% of free cash flow to our shareholders through dividend and stock repurchases,” said John Christmann IV, APA CEO and president. “The vast majority of this return is still being delivered through stock repurchases; however, we are confident that our long-term cash flow will comfortably support this step-up in the base dividend payment. At an annualized rate of $1.00 per share, our dividend yield is expected to exceed the current average dividend yield of the S&P 500.”

The board of directors also approved a further 40 million shares of additional share repurchase authorization.

For a dividend history and other dividend-related data on APA Corporation (APA) click here.

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