Diversified Gas & Oil raise dividend ‘because we can’ after ‘very good quarter’

‘s () Chief Executive Rusty Hutson talks to Proactive London about their third quarter results which Hutson summarises as ‘a very good quarter’.

Their decision to raise the dividend was ‘because we can, after generating a lot of cash flow’. And production remains very flat and ‘predictable’. After already increasing the dividend by 7% last quarter, the dividend will be increased by a further 7%, during a period when many companies across all sectors are facing severe headwinds.

Hutson says despite the ‘tremendously challenged quarter in terms of commodity prices’ our hedging program was very strong’. For the quarter ended 30 September 2020, adjusted earnings, EBITDA, was $75 million, up from $64 million year-on-year.