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VAALCO Energy, Inc. Declares Quarterly Dividend

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE:EGY, LSE: EGY)) ("VAALCO" or the "Company") declared its quarterly cash dividend of $0.0625 per share of common stock for the fourth quarter of 2023 ($0.25 annualized), which is payable on December 21, 2023, to stockholders of record at the close of business on November 24, 2023. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

George Maxwell, VAALCO's Chief Executive Officer, commented, "Our continued focus on operational excellence and enhancing the productivity of our diverse asset base has allowed us to continue to deliver on our promise to pay an increased dividend rate in 2023. With this declaration, we will now pay $0.25 per share in 2023 compared to $0.13 per share in 2022. While we are returning meaningful cash flow to our shareholders through dividends and share buybacks, we continue to grow our cash position and had over $100 million in cash on hand at September 30, 2023. We are excited about the future and the ability of our premier assets in Gabon, Egypt and Canada to continue generating strong operational results into 2024 and beyond."

About VAALCO

VAALCO, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with production, development and exploration assets in Africa and Canada.

Following its business combination with TransGlobe Energy Corporation ("TransGlobe") in October 2022, VAALCO owns a diverse portfolio of operated production, development and exploration assets across Gabon, Egypt, Equatorial Guinea and Canada.

For Further Information

VAALCO Energy, Inc. (General and Investor Enquiries) +00 1 713 623 0801
Website: www.vaalco.com
   
Al Petrie Advisors (US Investor Relations) +00 1 713 ...

Full story available on Benzinga.com


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