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FORT WORTH, Texas - Range Resources Corporation (NYSE:RRC), an independent natural gas and NGL producer with a market capitalization of $8.78 billion, announced today that its Board of Directors has approved an increase in the company’s quarterly cash dividend. The dividend for the first quarter has been raised to $0.09 per common share, a 12.5% increase from the previous payout, bringing the dividend yield to 0.88%. Stockholders of record at the close of business on March 14, 2025, will be eligible for the dividend, which is scheduled to be paid on March 28, 2025.
This increment boosts the annualized dividend to $0.36 per share. The decision to increase the dividend reflects the company’s financial strategy and commitment to delivering value to its shareholders, supported by its EBITDA of $776.39 million in the last twelve months. According to InvestingPro data, seven analysts have revised their earnings estimates upward for the upcoming period, suggesting positive momentum. Range Resources focuses its operations in the Appalachian Basin and is recognized as a leading producer in the United States natural gas sector.
The announcement is based on a press release statement from Range Resources Corporation, headquartered in Fort Worth, Texas. The company has not provided further details on the financial implications of the dividend increase. Investors and stakeholders are encouraged to visit the company’s website for additional information.
The dividend increase comes amidst a broader industry context where energy companies are balancing capital discipline with shareholder returns. Range Resources’ move to raise its dividend could be interpreted by investors as a signal of the company’s financial health and its confidence in sustained operational performance.
It is important for investors to note that dividends are typically paid out of a company’s profits, and the decision to increase, decrease, or maintain dividend levels can be influenced by a variety of factors, including the company’s earnings, capital expenditure requirements, and overall market conditions.
The information in this article is solely based on the latest press release from Range Resources Corporation and does not include any assumptions or predictions by the author.
In other recent news, Range Resources Corporation reported its fourth-quarter 2024 earnings, which showcased a mixed financial performance. The company’s earnings per share (EPS) came in at $0.68, exceeding analyst expectations of $0.58, while revenue fell short at $626.42 million compared to the forecasted $693.27 million. Despite the revenue miss, the company generated $453 million in free cash flow for the year. Additionally, Range Resources reduced its net debt by $172 million in 2024. In a strategic move, the company announced plans to moderately increase production in 2026-27, leveraging its extensive inventory and solid balance sheet. JPMorgan responded by raising its price target for Range Resources shares to $43.00 from $40.00, maintaining an Underweight rating. Furthermore, Range Resources appointed Christian S. Kendall, former CEO of Denbury Inc., to its Board of Directors, enhancing its governance and strategic capabilities. These developments reflect Range Resources’ ongoing efforts to optimize its financial and operational strategies.
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