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Diversified Energy Company gives shareholders a choice as it rolls out $43mln of returns

Published 15/02/2024, 08:10
© Reuters Diversified Energy Company gives shareholders a choice as it rolls out $43mln of returns

Proactive Investors - Diversified Energy Company PLC (LON:DEC) is to give shareholders a choice as it rolls out a US$43 million capital return programme – they can either receive a dividend or sell their shares back to DEC via a tender offer.

The overall US$43 million pot is equivalent to the total dividends paid for the third quarter.

DEC, an onshore oil and gas producer across the United States, said the new programme aimed to give shareholders with greater flexibility.

“The directors believe that the current trading price of the shares does not reflect the quality of the company's assets nor the significant opportunities for the company's long-term strategy,” the company said in a statement.

“The directors therefore consider that the repurchase of shares is a prudent use of capital for the company and is in the best interests of the shareholders.”

Read more on Proactive Investors UK

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