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Share Name | Share Symbol | Market | Type |
---|---|---|---|
SandRidge Energy Inc | NYSE:SD | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.39 | 19 | 13:02:46 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of Incorporation) |
(Commission file number) |
(I.R.S. Employer Identification No.) |
(Address of principal executive offices and Zip Code)
Registrant’s telephone number, including area code:
Not Applicable.
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. | Other Matters. |
On January 16, 2024, SandRidge Energy, Inc., a Delaware company (the “Company”) issued a press release announcing that its Board of Directors approved the following: (1) a one-time cash dividend of $1.50 per share of the Company’s common stock, payable on February 20, 2024 to stockholders of record as of the close of business on February 5, 2024, and (2) an increase to the current regular quarterly cash dividend from $0.10 per share of the Company’s common stock to $0.11 per share.
The full text of the press release is included as Exhibit 99.1 hereto.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit |
Description | |
99.1 | Press release dated January 16, 2024. | |
104 | Cover Page Interactive Data File |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
SandRidge Energy, Inc. | ||
By: | /s/ Brandon Brown | |
Brandon Brown | ||
Senior Vice President and Chief Financial Officer |
Date: January 16, 2024
Exhibit 99.1
NEWS RELEASE
SANDRIDGE ENERGY, INC. ANNOUNCES ONE-TIME $1.50 PER SHARE DIVIDEND
AND A 10% INCREASE TO ITS ON-GOING QUARTERLY DIVIDEND TO $0.11
PER SHARE FROM THE CURRENT $0.10 PER SHARE
Oklahoma City, Oklahoma, January 16, 2024 /PRNewswire/SandRidge Energy, Inc. (the Company) today announced that its Board of Directors (the Board) has (1) declared a one-time dividend of $1.50 per share (for a total payout of approximately $55 million) and (2) planned an on-going quarterly dividend increase to $0.11 per share, increased from the current $0.10 per share starting with the next quarterly payout.
The one-time $1.50 per share dividend will be payable on February 20, 2024 to shareholders of record on February 5, 2024.
The Board also announced that it currently plans to increase its on-going quarterly dividend to $0.11 per share starting with the next quarterly payout, estimated to be first paid in March 2024, continuing every quarter thereafter until noticed.
The Company will continue to maintain sufficient resources to execute on value accretive merger and acquisition opportunities, which could bring synergies, complement our portfolio of assets, or otherwise yield attractive returns. We will also continue to focus on growing the value of our asset base while exercising prudent capital allocations to projects that provide high rates of returns in the current commodity price environment.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the development, acquisition, and production of oil and gas assets. Its primary area of operations is the Mid-Continent region in Oklahoma and Kansas. Further information can be found at www.sandridgeenergy.com.
Contact Information
Investor Relations
SandRidge Energy, Inc.
1 E. Sheridan Ave., Suite 500
Oklahoma City, OK 73104
investors@sandridgeenergy.com
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on present circumstances and on the Companys predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including the expected future payment of dividends and any statements of the plans and objectives of management for future operations and forecasts of future growth and value, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.
Document and Entity Information |
Jan. 16, 2024 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | SANDRIDGE ENERGY INC |
Amendment Flag | false |
Entity Central Index Key | 0001349436 |
Document Type | 8-K |
Document Period End Date | Jan. 16, 2024 |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-33784 |
Entity Tax Identification Number | 20-8084793 |
Entity Address, Address Line One | 1 E. Sheridan Ave |
Entity Address, Address Line Two | Suite 500 |
Entity Address, City or Town | Oklahoma City |
Entity Address, State or Province | OK |
Entity Address, Postal Zip Code | 73104 |
City Area Code | (405) |
Local Phone Number | 429-5500 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, $0.001 par value |
Trading Symbol | SD |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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