Diamondback Energy As of November 12, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
FANG $2.00 33.3% 100.0% 50.0%
Business yield Hike yrs 5 yr CAGR freq. paid since
Oil & Gas Production 1.8% 3 N/A Quarter 2018
Diamondback Energy hikes dividend by 11.1%

Diamondback Energy, Inc. (FANG) will raise its quarterly dividend by another 11.1 percent 6.7 percent to 50 cents quarterly. This is the third dividend hike YTD by FANG for a total increase of 33.3 percent.

The next dividend is payable on November 18, 2021, to stockholders of record at the close of business on November 11, 2021. A new annual rate of $2.00 per share yields 1.8% at a stock price of $107.

“Diamondback continued building on its execution track record in the third quarter, generating a record $740 million of Free Cash Flow while keeping capital costs under control. Efficiency gains, particularly in the Midland Basin drilling and completion programs, have mitigated the inflationary pressures seen on well costs and have led to our second decrease in capital guidance this year, now down 10% from guidance presented in April 2021. Through the third quarter of 2021, Diamondback has generated $1.65 billion of Free Cash Flow, and we have used this Free Cash Flow to reduce our gross debt by $1.3 billion and increase our dividend for the third time this year, now up 33% from a year ago,” stated Travis Stice, Chief Executive Officer of Diamondback. Mr. Stice continued, “In addition, we are well-positioned to deliver on the enhanced return of capital program we recently outlined, where we expect to distribute 50% of quarterly Free Cash Flow beginning with the fourth quarter’s performance. This program consists of our sustainable and growing base dividend, which is well protected below $40 oil, and a combination of share repurchases and variable dividends which will be used interchangeably depending on which method presents the best return to our stockholders.”

Diamondback Energy, Inc. is an independent oil and natural gas company. The company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. The company's operations are directed primarily at the large acreage areas of the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, collectively known as the Wolfberry Trend. Diamondback Energy became a public company in 2012 and initiated a quarterly dividend in 2018.

Dividend Calendar

Look at the complete list of upcoming events
Ex-date Ticker Yield YTD hike
Dec 06 CTXS 1.7% 5.7%
Dec 06 CI 1.8% 9900.0%
Dec 06 WRB 0.6% 8.3%
Dec 07 AEE 2.6% 6.8%
Dec 07 AME 0.6% 11.1%
Dec 08 KIM 2.9% 6.3%
Dec 08 NEM 3.7% 37.5%
Dec 09 BDX 1.4% 4.8%
Dec 09 ADP 1.8% 11.8%
Dec 09 NTRS 2.2% 0.0%