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DALLAS - Vivakor, Inc. (NASDAQ:VIVK), an integrated provider of energy transportation, storage, reuse, and remediation services, announced today it has rescheduled the payment date for its previously announced special dividend to December 31, 2025. The company's stock, currently trading at $0.23, has declined 11.78% over the past week and is down significantly from its 52-week high of $1.74.
The company cited the ongoing government shutdown as the reason for the delay, stating it needs to complete required communications and filings with the Securities and Exchange Commission before the dividend can be distributed. The dividend may face additional delays if the shutdown continues.
According to the press release, the ex-dividend date of September 5, 2025, remains unchanged. Shareholders who held Vivakor common stock as of that record date will receive the dividend.
The special dividend involves Vivakor's 206,595 shares of Adapti, Inc., a company that recently acquired a multi-platform sports agency. This agency was previously owned by an entity controlled by James Ballengee, Vivakor's Chairman, President and CEO. Adapti reportedly plans to integrate the sports agency with its existing AdaptAI software platform, which matches products with influencers to market athletic careers and branding opportunities.
Vivakor operates in the energy sector, providing crude oil storage, transportation, reuse, and remediation services under long-term contracts. The company's facilities are designed to recover, reuse, and dispose of petroleum byproducts and oilfield waste products.
The information in this article is based on a press release statement issued by Vivakor.
In other recent news, Vivakor, Inc. has been active with several financial maneuvers. The company announced a registered direct offering expected to generate gross proceeds of $2.7 million. This offering includes 13 million shares of common stock and 2 million pre-funded warrants. In another development, Vivakor has launched a $24 million crude oil trading operation in the Permian Basin, utilizing its existing midstream assets. Additionally, Vivakor issued approximately 3.9 million shares to J.J. Astor & Co. as part of a debt conversion agreement. This transaction involved converting $400,000 of a promissory note into common shares. Furthermore, Vivakor secured $3.5 million through another registered direct offering, which includes 10.9 million shares of common stock and 5 million pre-funded warrants. D. Boral Capital LLC is noted as the exclusive placement agent for these transactions.
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