Magnolia Oil & Gas Increases Dividend and Moves to Quarterly from Semi-Annual Payout

Aug 02, 2022

Magnolia Oil & Gas Corporation (NYSE: MGY) announced today that its Board of Directors has declared a cash dividend of $0.10 per share of Class A common stock, and a cash distribution of $0.10 per Class B unit payable on September 1, 2022 to shareholders of record as of August 12, 2022. In addition, and beginning with this distribution, Magnolia will move to a quarterly dividend payment from a semi-annual distribution schedule. Today’s announcement represents a $0.40 per share annualized rate or a 43 percent increase to Magnolia’s dividend compared to the $0.28 per share distribution for full year 2021. Magnolia’s next quarterly dividend is expected to be declared in November and paid in December.

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