Matador boosts quarterly dividend 25% to 31.25c per share

Matador (MTDR) announced last night that its board approved a 25% increase in the company’s dividend policy, raising the dividend from $1.00 annually, or 25c per quarter, to $1.25 annually, or 31.25c per quarter. The quarterly cash dividend of 31.25c per share is payable on March 14, to shareholders of record as of February 28. “Matador believes that a steadily increasing fixed dividend is the best way to comfortably return cash to its shareholders while also continuing to build value through growing our upstream and midstream businesses,” the company said in its earnings release. CEO Joseph Foran added, “Raising the dividend – and senior management buying the stock, of which there are 30 ‘buys’ since 2021 and no ‘sells’-is the sincerest way we know to express our confidence in the operational and financial outlook for Matador going forward. The Board and I would now like to point out some accomplishments that support this dividend increase.”