Continental Resources Inc. (CLR) will boost its quarterly dividend by 36.4 percent to 15 cents per share. Earlier in 2021 the oil and gas company reinstated the quarterly dividend with a first payment of 11 cents per share. Last year CLR suspended its quarterly dividend because of the COVID-19 pandemic. In 2019 the oil company initially started paying a quarterly dividend of $0.05 per share.
The next dividend is payable on August 20, 2021 to stockholders of record on August 10, 2021. The new annualized dividend rate of 60 cents per share yields 1.8% at a stock price of $34.15.
Continental Resources is an independent crude oil and natural gas company formed in 1967 engaged in the exploration, development, and production of crude oil and natural gas in the North, South and East regions of the United States. The company also pursues the acquisition and management of perpetually owned minerals located in its key operating areas. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken, and the Red River units. The South region includes all properties south of Nebraska and west of the Mississippi River including various plays in the SCOOP and STACK areas of Oklahoma. The East region is primarily comprised of undeveloped leasehold acreage east of the Mississippi River with no significant drilling or production operations.