VAALCO Energy, Inc. Declares First Quarter 2025 Cash Dividend of $0.0625 per Share

VAALCO Energy announced a quarterly cash dividend of $0.0625 per share for Q1 2025, payable on March 28.

Quiver AI Summary

VAALCO Energy, Inc. has announced its quarterly cash dividend of $0.0625 per share for the first quarter of 2025, amounting to an annualized total of $0.25. This dividend will be payable on March 28, 2025, to stockholders on record as of February 28, 2025. CEO George Maxwell expressed satisfaction in continuing their dividend payments, emphasizing the company’s commitment to shareholder returns while pursuing growth opportunities. The Board of Directors will determine future dividends based on various factors, including financial performance and market conditions. Established in 1985, VAALCO operates as an independent energy company with assets in several countries, including Gabon and Egypt.

Potential Positives

• VAALCO Energy declared a quarterly cash dividend of $0.0625 per share for the first quarter of 2025, demonstrating a commitment to returning value to shareholders.
• This marks the beginning of the fourth year of paying a meaningful cash dividend, indicating the company's sustained financial performance and stability.
• The CEO highlighted the company's ongoing operational and financial success, which supports both dividend payments and active investment in growth opportunities.
• The company has a diverse portfolio of assets across multiple countries, emphasizing its strategic positioning in the energy sector.

Potential Negatives

• The dividend is significantly lower than expectations or previous payments, which may disappoint shareholders.
• The forward-looking statements include numerous risks and uncertainties, suggesting potential challenges that could impact the company's financial stability.
• Future dividends are subject to the Board of Directors' discretion, indicating the possibility of suspension or reduction in further payouts, which may unsettle investors.

FAQ

What is Vaalco Energy's quarterly dividend for Q1 2025?

Vaalco Energy declared a quarterly cash dividend of $0.0625 per share for the first quarter of 2025.

When will Vaalco's dividend be paid?

The dividend will be payable on March 28, 2025, to stockholders of record as of February 28, 2025.

How long has Vaalco been paying dividends?

This dividend marks the beginning of the fourth year of meaningful cash dividends to shareholders by Vaalco.

What factors influence Vaalco's future dividend declarations?

Future dividends depend on Vaalco’s financial results, balance sheet strength, cash needs, and other relevant factors.

Who is Vaalco Energy and where are they based?

Vaalco Energy, founded in 1985, is an independent energy company based in Houston, Texas, with assets in several countries.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$EGY Insider Trading Activity

$EGY insiders have traded $EGY stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $EGY stock by insiders over the last 6 months:

• GEORGE W.M. MAXWELL (Chief Executive Officer) purchased 4,500 shares for an estimated $21,060

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$EGY Hedge Fund Activity

We have seen 99 institutional investors add shares of $EGY stock to their portfolio, and 129 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• MILLENNIUM MANAGEMENT LLC added 1,490,850 shares (+inf%) to their portfolio in Q4 2024, for an estimated $6,515,014
• TIETON CAPITAL MANAGEMENT, LLC removed 1,471,404 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $8,445,858
• STATE STREET CORP removed 877,537 shares (-20.5%) from their portfolio in Q4 2024, for an estimated $3,834,836
• DIMENSIONAL FUND ADVISORS LP added 834,398 shares (+51.1%) to their portfolio in Q4 2024, for an estimated $3,646,319
• ALLIANZ ASSET MANAGEMENT GMBH added 802,216 shares (+92.9%) to their portfolio in Q4 2024, for an estimated $3,505,683
• VANGUARD GROUP INC removed 583,078 shares (-7.6%) from their portfolio in Q4 2024, for an estimated $2,548,050
• FIRST SABREPOINT CAPITAL MANAGEMENT LP added 500,000 shares (+34.5%) to their portfolio in Q4 2024, for an estimated $2,185,000

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

HOUSTON, Feb. 19, 2025 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) today announced that it declared its quarterly cash dividend of $0.0625 per share of common stock for the first quarter of 2025 ($0.25 annualized), which is payable on March 28, 2025, to stockholders of record at the close of business on February 28, 2025. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are pleased to announce our first quarter 2025 dividend, marking the beginning of the fourth year of paying a meaningful cash dividend to our shareholders. While we plan an active investment program in 2025, our ongoing operational and financial success has allowed us to continue returning cash to our shareholders. We remain committed to paying a sustainable, meaningful dividend to our shareholders while we grow Vaalco through both organic development activities across our diversified portfolio and inorganic growth opportunities.”

About Vaalco

Vaalco, founded in 1985 and incorporated under the laws of Delaware, is a Houston, Texas, USA based, independent energy company with a diverse portfolio of production, development and exploration assets across Gabon, Egypt, Cote d’Ivoire, Equatorial Guinea, Nigeria and Canada.

For Further Information

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and may also include “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of historical fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “aim,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, statements relating to expectations of future dividends to stockholders. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows that, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and costs of completion for scheduled maintenance of the FPSO servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s 2023 Annual Report on Form 10-K filed with the SEC on March 15, 2024 and subsequent Quarterly Reports on Form 10-Q filed with the SEC.

Dividends beyond the first quarter of 2025 have not yet been approved or declared by the Board of Directors. The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Vaalco’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, crude oil and natural gas prices, and other factors deemed relevant by the Board of Directors. The Board of Directors reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on Vaalco’s common stock, the Board of Directors may revise or terminate the payment level at any time without prior notice.

Inside Information

This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”) and is made in accordance with the Company’s obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of VAALCO is Matthew Powers, Corporate Secretary of VAALCO.

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