Magnolia Oil & Gas announces 15% dividend increase

Magnolia Oil & Gas announced that its Board of Directors has declared a cash dividend of 15c per share of Class A common stock, and a cash distribution of 15c per Class B unit, payable on March 3, 2025, to shareholders of record as of February 14, 2025. This announcement represents a 15% increase to Magnolia’s quarterly dividend rate and provides an annualized dividend of 60c per share. This is the fourth consecutive year that Magnolia has increased its dividend rate since initiating a dividend payment in 2021. Magnolia expects to declare its next quarterly dividend in May for payment in June. “The increase in the dividend is supported by Magnolia’s achievements during 2024 which included total production growth of 9%, a 5% reduction in the total shares outstanding, and strong progress on lowering our field-level cash operating costs,” said Chris Stavros, Magnolia’s President and CEO.