ChampionX (CXH) has initiated a quarterly dividend of 7.5 cents per share in 2022. A 30 cent per share annual dividend yields 1.3% at a stock price of $21.62. The annual dividend payment is $61 million based on calculations by dividendhike.com.

“Our consistent and disciplined approach to capital allocation since the spin-off enabled us to reach our target leverage ratio of 1x net debt to trailing twelve months EBITDA during the fourth quarter. We are now delivering on our commitment to begin returning capital to shareholders by initiating a regular quarterly dividend of $0.075 per share of common stock, a level which we believe is sustainable through-the-cycle and maintains our capital flexibility to further pay down debt and invest in attractive organic and M&A opportunities. Our Board of Directors has declared our first quarterly dividend to be paid on April 29, 2022 to shareholders of record on April 8, 2022, ChampionX’s President and Chief Executive Officer Sivasankaran “Soma” Somasundaram said commenting on the company's 2021 results and dividend start.

ChampionX is a global leader in chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely and efficiently around the world. ChampionX’s products provide efficient functioning throughout the lifecycle of a well with a focus on the production phase of wells.