SandRidge Energy, Inc. (NYSE:SD) Announces Dividend Increase - $0.12 Per Share

Key Points

• SandRidge Energy, Inc. has raised its quarterly dividend to $0.12 per share from the previous $0.11, reflecting a 9.1% increase.
• The company reported earnings of $0.33 per share for the last quarter, surpassing analysts' expectations of $0.29, although revenue was $34.53 million, below the anticipated $37.30 million.
• SandRidge has a dividend payout ratio of 25.1%, indicating that the dividend is well-supported by its earnings.

SandRidge Energy, Inc. (NYSE:SD - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Monday, September 22nd will be given a dividend of 0.12 per share by the oil and natural gas company on Monday, September 29th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, September 22nd. This is a 9.1% increase from SandRidge Energy's previous quarterly dividend of $0.11.

SandRidge Energy has a payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings.

SandRidge Energy Trading Up 1.6%

Shares of SD traded up $0.18 during midday trading on Monday, reaching $11.06. The stock had a trading volume of 411,801 shares, compared to its average volume of 290,632. The firm has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $10.76. SandRidge Energy has a one year low of $8.81 and a one year high of $13.72. The firm has a market cap of $406.27 million, a PE ratio of 5.42 and a beta of 0.95.

SandRidge Energy (NYSE:SD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and natural gas company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. SandRidge Energy had a net margin of 51.77% and a return on equity of 10.05%. The business had revenue of $34.53 million during the quarter, compared to analysts' expectations of $37.30 million.

About SandRidge Energy

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.