SandRidge declares one-time $1.50 dividend and announces dividend increase

SandRidge Energy announced that its Board of Directors has declared a one-time dividend of $1.50 per share, for a total payout of approximately $55M, and planned an on-going quarterly dividend increase to 11 per share, increased from the current 10c per share starting with the next quarterly payout. The one-time $1.50 per share dividend will be payable on February 20 to shareholders of record on February 5. The Board also announced that it currently plans to increase its on-going quarterly dividend to 11c per share starting with the next quarterly payout, estimated to be first paid in March, continuing every quarter thereafter until noticed.