By Sean Farrell
Date: Tuesday 28 Jun 2022
LONDON (ShareCast) - (Sharecast News) - Diversified Energy increased its dividend as the gas and oil company reported a 3% increase in first-half earnings.
Hedged adjusted earnings before interest, tax, depreciation and amortisation rose to $151m from $146m in the six months to the end of June from a year earlier.
The FTSE 250 group had a net loss of $84m including a $278m non-cash mark-to-market valuation loss. A year earlier the equivalent net income was $18m.
Diversified Energy, which owns assets in the US, increased its interim dividend to 4 cents a share from 3.75 cents a share a year earlier.
In May the company announced the $135m acquisition of mainly natural gas assets in Louisiana in April and changed its name from Diversified Gas & Oil in July. The deal added to its operations in the Appalachian region.
Rusty Hutson, chief executive, said: "I am thrilled with the progress we made in this active first half of 2021, successfully delivering on a number of key strategic initiatives in line with our long-term growth strategy.
"Our entry into a new operating region complements our continued focus in Appalachia and introduces a geographic diversity capable of providing improved margins from higher realised pricing and a significant new runway for further value accretive and synergistic opportunities."
Diversified Energy shares fell 1.5% to 104p at 08:37 BST and are down 9% so far in 2021.
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Currency | UK Pounds |
Share Price | 1,114.00p |
Change Today | 3.00p |
% Change | 0.27 % |
52 Week High | 1,946.00 |
52 Week Low | 845.00 |
Volume | 174,826 |
Shares Issued | 47.52m |
Market Cap | £529.37m |
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Price Trend |
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Growth |
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Latest | Previous | |
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Q1 | Q3 | |
Ex-Div | 29-Aug-24 | 29-Feb-24 |
Paid | 27-Sep-24 | 28-Mar-24 |
Amount | 29.00¢ | 4.38¢ |
Time | Volume / Share Price |
16:35 | 44,735 @ 1,114.00p |
16:35 | 2 @ 1,114.00p |
16:35 | 684 @ 1,114.00p |
16:35 | 191 @ 1,114.00p |
16:35 | 424 @ 1,114.00p |
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