PDC Energy increases quarterly dividend, share repurchase program

PDC Energy announced that its board of directors declared an increase to its quarterly cash dividend from 35c to 40c per share on PDC’s outstanding common stock. The dividend is payable on March 16 to stockholders of record at the close of business on March 2. This marks the second consecutive annual increase since implementing the dividend in 2021. PDC also announced that the board of directors approved an incremental $750M dollars to the company’s existing $1.25B share repurchase program, bringing the total authorization to $2B. The company remains committed to returning a minimum of 60% of its annual post base dividend adjusted free cash flow to shareholders through the company’s share repurchase program and a year-end special dividend, if needed.