Continental Resources (CLR) Tops Q4 EPS by 9c

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CONTINENTAL RESOURCES ANNOUNCES RECORD 2021 RESULTS; 2022 PROJECTIONS HIGHLIGHT INCREASING CASH FLOW & CORPORATE RETURNS

February 14, 2022 4:15 PM EST

OKLAHOMA CITY, Feb. 14, 2022 /PRNewswire/ --

2021: Delivered Record Cash Flow Generation

     $1.66 B Net Income; $4.56 per Diluted Share ($1.70 B Adj. Net Income; $4.66 per Adj Share (Non-GAAP))      o     Company Record $3.97 B Cash Flow from Operations (CFO) & $2.64 B Free Cash Flow (FCF) (Non-GAAP)      o     14.6% Return on Capital Employed1 (ROCE)

Significant Increase in Return of Capital to Shareholders

     Increasing Quarterly Dividend to $0.23 per Share (~1.7% Dividend Yield2); Targeting 2.0% or Greater Yield Long Term      Increasing Share Buyback Program from $1.0 B to $1.5 B (Inclusive of $441 MM Repurchased to Date)

2022: Increasing Cash Flow & Corporate Returns  

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