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DEC Diversified Energy Company Plc

948.00
55.50 (6.22%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Diversified Energy Company Plc DEC London Ordinary Share
  Price Change Price Change % Share Price Last Trade
55.50 6.22% 948.00 16:35:19
Open Price Low Price High Price Close Price Previous Close
897.50 895.00 952.00 948.00 892.50
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Diversified Energy DEC Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
15/11/2023InterimUSD0.87529/02/202401/03/202428/03/2024
01/09/2023InterimUSD0.0437530/11/202301/12/202329/12/2023
09/05/2023InterimUSD0.0437531/08/202301/09/202329/09/2023
21/03/2023FinalUSD0.0437525/05/202326/05/202330/06/2023
14/11/2022InterimUSD0.0437502/03/202303/03/202328/03/2023
08/08/2022InterimUSD0.042524/11/202225/11/202228/12/2022
16/05/2022InterimUSD0.042501/09/202202/09/202226/09/2022
22/03/2022FinalUSD0.042526/05/202227/05/202230/06/2022
28/10/2021InterimUSD0.042503/03/202204/03/202228/03/2022
05/08/2021InterimUSD0.0425/11/202126/11/202117/12/2021
30/04/2021InterimUSD0.0402/09/202103/09/202124/09/2021
08/03/2021FinalGBP0.028127/05/202128/05/202124/06/2021
29/10/2020InterimUSD0.0404/03/202105/03/202126/03/2021
10/08/2020InterimUSD0.037526/11/202027/11/202018/12/2020
04/05/2020InterimUSD0.03503/09/202004/09/202025/09/2020
09/03/2020FinalUSD0.03528/05/202029/05/202026/06/2020
10/12/2019InterimUSD0.03505/03/202006/03/202027/03/2020
08/08/2019InterimUSD0.03528/11/201929/11/201920/12/2019
13/06/2019InterimUSD0.034205/09/201906/09/201927/09/2019
28/02/2019FinalUSD0.03411/04/201912/04/201928/06/2019

Top Dividend Posts

Top Posts
Posted at 20/3/2024 08:45 by fordtin
bluemango - I'm one of those angry private investor "I'm cross at the dividend cut so I'm selling now".

I was a passive dividend investor content to watch the noise and enjoy the dividend.
But as my dividend yield has been cut to around 3%, the only way I'm likely to see a return on my investment is to join the short-term traders.

I sold about half of my DEC shares yesterday morning, then bought & sold a few throughout the day.
I probably won't be the only 'angry private investor' trying to recover losses by trading the peaks & troughs.
With such a huge fall in share price to recoup, the aftermath isn't going away any time soon.
Posted at 20/3/2024 08:37 by kaos3
SPECULATION
looking back ... first oak tree deal, then nyse listing plans, then shorting combined with all kinds of environmental concerns, then fin community research notes /sometimes biased/, then obvious divi cut, then oak tree sells dec operated assets to dec ...

all that is missing is oak buying huge amount of dec shares to double the assets for the same dollar invested.

just wait - no more BBs to let others buy.... and of course no BBs ... they gave all the cash to oak

----------------------------------------
was oak tree some how limited in buying dec paper on lse but is not so on nyse....

tia

clearly huge trust and friendship rusty - oak... maybe fin cfo got it and did not like the cunning plan... and left

as did melanie after the oak deal ..../Diversified Energy Company PLC (LSE:DEC) announced today that, due to other commitments, Melanie Little will resign from the Company's Board of Directors (the "Board") as of 31 December 2022. Little, who has been a member of the board since 2019... /


a speculation of course - not reality ... but has a time and facts dots lined up perfectly

--------------------------------------
do oak people and rusty have some common prior history ....
Posted at 19/3/2024 20:34 by stevensupertrader
CEO Rusty always said in few recent RNS in the last six months that the share price was undervalued and DEC was trading extremely well and!85% of the gas was hedged and enabling DEC to pay the dividend
If DEC was doing so well , why needed to cut 67% of the past declared dividend ?
Therefore CEO Rusty was always lying in past RNS update . Rusty can never be trusted .imo
Posted at 19/3/2024 16:56 by monte1
A blow for income investors after Diversified Energy Co DEC rebased its dividend was today softened by a pledge to remain among the best-yielding stocks in the FTSE 350 index.

The Alabama-based oil and gas company has recommended a June quarterly dividend of 29 US cents (22.8p), bringing the yield back in line with the historical average of 10%. The shares had been on a market leading 25%-plus prior to today’s annual results.
Diversified said the new capital allocation framework, which will enable it to grow via strategic acquisitions as well as reduce debt and carry out share buybacks, should mean longer-term value creation for its shareholder base.

Since 2017, the company has paid more than $700 million (£550.7 million) in dividends along with approximately $110 million (£86.5 million) in share repurchases.

It said the new fixed quarterly dividend payment of 29 US cents will be sustainable for at least three years and deliver a top-quartile FTSE 350 yield higher than most US listed peers.

Chief executive Rusty Hutson said the dividend recalibration took into account current commodity prices and expected future capital requirements. He added: “We understand the importance of this decision to our shareholders and do not take the decision lightly.”

Despite the price headwinds in the natural gas market, Diversified grew annual adjusted earnings by about 8% to $543 million (£427.2 million) and generated $219 million (£172.3 million) in free cash flow.

The company’s assets primarily consist of long-life, low-decline natural gas wells located within the Appalachian Basin and Central Region of the United States. Examples include the Barnett operating area, which during the early 2000s was the largest natural gas shale play in the US.

Diversified achieved record production and lower unit costs during 2023 but a weaker US gas price has impacted its shares, which fell 44% last year. The stock dropped 57p to 866.5p following the results but broker Peel Hunt continues to have a price target of 3,000p.
Posted at 19/3/2024 11:58 by drk1
For long term holders such as myself, today's news in respect of the divi cut is a bit of a short term shocker. BUT for new investors, insti's etc, today's news echoes opportunity, stabilty and debt reduction which IMO, will drive new money in and the share price North. Waiting for my entry point to add whilst the carnage is in full swing. ;-)

"Diversified Energy Co PLC on Tuesday reported a sharply higher dividend amid a swing to a profit on the back of commodity derivative settlements, while revenue edged up. The Alabama, US-based oil and gas production company focused on the Appalachia and central region in the US said it swung to a pretax profit of USD1.00 billion in 2023 from a loss of USD799.5 million in 2022.

Diversified Energy shares fell 8.0% to 849.68 pence each on Tuesday morning in London.

Revenue, including settled hedges, climbed 2.2% to USD1.05 billion in 2023 from USD1.02 billion. Notably, Diversified Energy reported a net gain of USD178.1 million on commodity derivative settlements in 2023, compared to a USD895.8 million net loss in 2022.

Natural gas production edged up 0.3% to 256.4 million cubic feet from 255.6 the year before. Natural gas liquid output jumped 12% to 5.8 million barrels in 2023 from 5.2 million barrels a year prior.

The company posted a final dividend of 29 US cents per share, up sharply from 4.38c a year ago. This brings the total dividend to USD1.16, much higher than 17.25c paid for 2022.

Diversified Energy added that it is recalibrating its fixed dividend payout to align with the current equity market dynamics, peer trends, prevailing commodity prices and expected future allocations.

"We understand the importance of this decision to our shareholders and do not take the decision lightly. By focusing our capital allocation on a fixed dividend level that is competitive with the industry and the market at large, we are prioritizing the acceleration of our balance sheet de-leveraging, with over USD200 million in debt repayments during 2024, creating financial flexibility and a strong foundation to maximize long-term value creation for our shareholder base," it said.

Looking ahead, Chief Executive Officer Rusty Hutson said: "Diversified's differentiated stewardship business model will thrive amid the backdrop of rising global energy demand, consolidation in the US. energy markets, and enhanced expectations for sustainably produced energy."

By Tom Budszus, Alliance News slot editor"
Posted at 19/3/2024 10:11 by 1knocker
We have recognised for some while that the share price and he dividend were out of kilter. One had to move. Now we know which. Unhappily it has not been the (as we hoped, but now know better) an oversold share price. At the future dividend rate, he share price now looks about right. The market knew better than we did.

I was braced for up to a 50% cut at some time, but 66% is a bad blow. A substantially bigger cut than my worst case scenario, and sooner than I had bargained for. Moreover, the business model (substantial hedging), while it lends itself to certainty, also makes special dividends highly unlikely. We should be safe from further dividend cuts for 3 years, but with no prospect held out of any increase.

To my eye the reduction of the dividend to 'in line with industry peers (albeit the higher paying industry peers) without any prospect of special dividends or even a progressively increasing dividend from a lower base, means that DEC has lost its USP, which was the very high dividend. There is now no reason to opt for DEC in preference to its peers.

I am a little over 50% down on my capital account. I had hopes that in time we would see a return to at least £20 (£1 old money, which not long ago we thought a once in a lifetime buying gift price). A return to that price during the next 3 years would imply a reduction in the yield to 5%. That is not going to happen. Not even close to that price.

For those of us who have held for a while, our holdings do not look so bad on a total return basis, but most of us will still be down, albeit by nothing like so much. The fact remain though that for those of us like me with an average purchase price of a bit under £10, our return of that capital is now going to be only about 5%, which is not much more than can be had on a 3 year fixed return Building Society account. For those subject to 30% withholding tax, or even 15% tax, well, do the maths for yourselves. Fortunately I hold DEC in a SIPP. For those who do not, and especially if they bought when the price spiked to about £1.40 old money (£28 after consolidation) the return on their capital will be very poor indeed. Those who bought in the last capital raise must feel absolutely gutted.

As for the talk about paying down debt and further share buy backs, that is no comfort if it is not reflected in any increase in the dividend on the shares remaining in issue to reflect the reduced debt servicing cost and smaller number of shares on which the dividend will be paid. There appears to be small prospect of that, as there is not even the hope held out of a progressive dividend policy. It is at least as important to note what company announcements do NOT say as what they do.

The only small ray of comfort is the prospect of a strengthened balance sheet to enable further acquisitions when the price of gas (and thus acquisition costs) are depressed.

Given the good operational performance reported, this is all deeply, deeply disappointing.

I suppose the moral is 'if it looks too good to be true, it generally is'. For us, an old lesson expensively relearned.

Make the most of this month's dividend. Its the end of the bonanza times, with no return to the glory days in prospect.
Posted at 18/3/2024 19:56 by laurence llewelyn binliner
Is the model not all about sustained dividend payouts, and debt repayments with acquisitions to build and replace volume declines..

The share price is not the limiting factor dictating the dividends, free cash flows are and with 80/85% of production hedged these are shielded..

Annual report 2021 - the boards target is to return not less than 40% of FCF to shareholders by way of dividends on a quarterly basis, in line with the strength and consistency of the groups cash flows.

Annual report 2022 - The boards target has been to return FCF to shareholders by way of dividend, on a quarterly basis, in line with the strength and consistency of the groups cash flows.
The directors may further revise the groups dividend policy from time to time in line with the groups actual results and financial position. The boards dividend policy reflects the groups current and expected future cash flow generation potential..

2023 - due next, and an interesting day coming up tomorrow..
Posted at 18/3/2024 19:11 by fordtin
bluemango, re "But even if halved it would still be a very decent yield,"
I have to disagree with you there. Having been a shareholder for a couple of years, the dividend I receive is nowhere near the dividend yield recent investors get.
Halving the dividend would be a very strong sell signal for me.
Posted at 09/3/2024 08:51 by bountyhunter
Further to the above as the dividend is in USD with the exchange rate not yet declared the break even price calculation (for those subject to the 30% withholding tax on the dividend) should really be in dollars. By break even I mean the share price at which taking the dividend or taking up the tender offer (for those subject to the 30% withholding tax on the dividend) would result in the same outcome.

So the share price at which taking the dividend or the tender offer would yield the same amount for those subject to 30% withholding tax on the dividend would be:

((0.875*0.7)/5)*100 = $12.25 which at the current exchange rate is £9.53.

It will be interesting to see if the average market price for the 5 business days to 26 March exceeds that level.
Posted at 07/3/2024 17:50 by spangle93
Sorry if this has been done to death, but regarding the choice of what to do with your dividend payment, I have belatedly been given information by H-L

Important tax consequences of the offer

Please note both the dividend and tender offer proceeds will be subject to tax consequences.
It’s expected the dividend will be treated the same as all US dividends and subject to US withholding tax, unless you hold shares in a SIPP.
It’s also expected that cash received in the tender offer will also be treated as if it was a dividend and may therefore also be subject to US withholding tax.

My DEC shares are in an ISA. I thought one of the advantages of the new scheme was that it would attract CGT (should there be a gain) rather than income tax. But from H-L's guidance, there's no real advantage to selling the shares, because the same tax liability is incurred whether you take the divi or sell the shares

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