PDC Energy announces 65c per share special dividend

PDC Energy announced that its board of directors declared a special dividend of 65c per share in addition to a quarterly cash dividend of 35c per share on PDC’s outstanding common stock. The dividends are payable on December 28 to stockholders of record at the close of business on December 19. For the FY22, PDC anticipates returning approximately $1B to shareholders through share repurchases, base dividend payments and the special dividend. Inclusive of the combined $1.00 base and special dividend payments in December and the $745M invested in share repurchases to retire approximately 11M shares through November 30, 2022, PDC has returned approximately $925M in 2022 so far. The company maintains an active share repurchase program and expects to continue to repurchase shares through year-end and into 2023 under its existing board-authorized $1.25B share repurchase program.