Magnolia Oil & Gas Corporation (MGY) Raises Quarterly Dividend 15% to $0.115; 2% Yield

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Go back to Magnolia Oil & Gas Corporation (MGY) Raises Quarterly Dividend 15% to $0.115; 2% Yield

Magnolia Oil & Gas Increases Quarterly Dividend 15 Percent

January 31, 2023 10:58 AM EST

HOUSTON--(BUSINESS WIRE)-- Magnolia Oil & Gas Corporation (NYSE: MGY) announced today that its Board of Directors has declared a cash dividend of $0.115 per share of Class A common stock, and a cash distribution of $0.115 per Class B unit payable on March 1, 2023 to shareholders of record as of February 10, 2023. Todays announcement represents a 15 percent increase to Magnolias quarterly dividend rate and would provide an annualized dividend payout rate of $0.46 per share. Although still a young company, this action marks our third consecutive year with an increase in the annual dividend payout per... More