Vivakor sets special dividend payment date for September 26

DALLAS - Vivakor, Inc. (NASDAQ:VIVK) announced Wednesday that its previously-announced special dividend will be paid on September 26, 2025, to shareholders of record as of the ex-dividend date of September 5, 2025. This special distribution marks a departure from the company’s typical policy, as InvestingPro data shows Vivakor does not regularly pay dividends to shareholders. The company’s stock currently trades at $0.74, with a market capitalization of approximately $35 million.

The dividend will consist of Adapti, Inc. shares, with eligible Vivakor shareholders receiving approximately 0.0079 shares of Adapti common stock per Vivakor share. Based on Adapti’s current $2.50 share price, the special dividend is valued at approximately $515,000.

Vivakor’s Chairman, President and CEO James Ballengee and the former Chief Financial Officer have waived their right to the dividend, excluding their combined 20,963,229 shares from the distribution.

"The payment of this dividend prior to the current quarter’s end provides immediate value to Vivakor shareholders and demonstrates our commitment to improving Vivakor’s balance sheet and focus our efforts on our core crude oil transportation and facilities business," said Ballengee in the press release statement.

Vivakor currently holds 206,595 shares of Adapti, representing approximately 13.5% of Adapti’s outstanding common stock. Adapti is a publicly-traded OTCID company that recently acquired a multi-platform sports agency previously owned by an entity controlled by Ballengee.

Vivakor describes itself as an integrated provider of energy transportation, storage, reuse, and remediation services, with facilities that provide crude oil storage, transportation, reuse, and remediation services under long-term contracts.

In other recent news, Vivakor, Inc. has announced several significant developments. The company has sold two non-core business units, Meridian Equipment Leasing, LLC and Equipment Transport, LLC, in a move that will eliminate approximately $59 million in debt and provide net consideration of about $11 million. This sale marks Vivakor’s exit from the produced water transportation sector, allowing the company to focus on higher-margin business segments. Additionally, Vivakor has issued convertible promissory notes and shares to a group of non-affiliated accredited investors, raising approximately $5.1 million in principal amount through a Securities Purchase Agreement.

In leadership changes, Vivakor has appointed Kimberly Hawley as Executive Vice President and Chief Financial Officer and Les Patterson as Executive Vice President and Chief Operating Officer. Hawley brings extensive financial experience, including expertise in SEC reporting and audit management. Furthermore, Vivakor has expanded its operations in the Permian and Eagle Ford Basins, where it owns and operates 10 pipeline injection stations. This strategic expansion aims to enhance crude oil aggregation and transportation, aligning with Vivakor’s goal to improve revenue growth and efficiency in these key oil-producing regions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.