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Magnolia Oil & Gas increases quarterly dividend 15% to 11.5c per share
The Fly

Magnolia Oil & Gas increases quarterly dividend 15% to 11.5c per share

Magnolia Oil & Gas Corporation announced today that its Board of Directors has declared a cash dividend of 11.5c per share of Class A common stock, and a cash distribution of 11.5c per Class B unit payable on March 1, 2023 to shareholders of record as of February 10, 2023. The announcement represents a 15% increase to Magnolia’s quarterly dividend rate and would provide an annualized dividend payout rate of 46c per share. "Today’s increase to the quarterly base dividend reflects our strong operating and financial performance achieved during 2022 and demonstrates our ongoing confidence in the outlook for the business," said Chris Stavros, Magnolia’s President and CEO.

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