Northern Oil and Gas, Inc.’s NOG board of directors recently announced a cash dividend of 42 cents per share, representing a 5% increase from the prior year’s quarter level. The dividend will be payable Jan. 31, 2025, to its stockholders on record as of Dec. 30, 2024.
The company also plans to increase its next quarter dividend, which will represent a 10% hike from its 2024 levels.
NOG’s 2025 Dividend Plan Aims for Double-Digit Growth
NOG has a policy to set its dividend strategy once a year before declaring the first quarter dividend in any calendar year. For 2025, the company has decided to increase its quarterly dividend to 45 cents per share, resulting in an expected 10% annual increase compared to 2024. Its robust cash flow and disciplined financial strategy support its incremental dividend strategy.
The new dividend policy is subject to provisional modifications driven by significant changes in commodity prices or major corporate developments.
NOG’s Commitment to Investor Returns
NOG, carrying a Zacks Rank #3 (Hold) currently,believes that with the growth of the company, the shareholders too deserve a portion of the increased cash flow via shareholder returns. Therefore, the company’s incremental dividend strategy reflects a superior return model supporting a prudent payout ratio with healthy growth prospects.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other companies that recently declared a dividend hike are PBF Energy Inc. PBF, Liberty Energy Inc. (LBRT) and Exxon Mobil Corporation XOM.
Along with the third-quarter earnings, PBF Energy announced a 10% increase in its quarterly dividend. The new dividend of 27.5 cents was paid on Nov. 27 to its shareholders of record on Nov. 13.
Ahead of the earnings release, Liberty’s board of directors announced a dividend of 8 cents per common share payable on Dec. 20 to its stockholders of record as of Dec. 6. This dividend represents a 14% increase from the prior regular quarterly dividend of 7 cents per share.
Continuing its dividend growth streak of 42 years, ExxonMobil announced a 4% hike in its quarterly dividend to 99 cents per share on Nov. 1.
Free: 5 Stocks to Buy As Infrastructure Spending Soars
Trillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.
In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
Northern Oil and Gas, Inc. (NOG) : Free Stock Analysis Report
Liberty Energy Inc. (LBRT) : Free Stock Analysis Report
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