What is the significance of the share repurchase?

The share repurchase indicates a strategic approach to enhance shareholder value by reducing the number of shares outstanding.

SM ENERGY DECLARES QUARTERLY CASH DIVIDEND

SM Energy Company (NYSE: SM) has announced a quarterly cash dividend of $0.15 per share, payable on May 5, 2023, to stockholders of record by April 21, 2023.

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

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Sentiment and the balance of points

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Rhea-AI Summary

SM Energy Company (NYSE: SM) has announced a quarterly cash dividend of $0.15 per share, payable on May 5, 2023, to stockholders of record by April 21, 2023. This decision reflects strong financial management as the company repurchased approximately 1.4 million shares in the first quarter, reducing outstanding shares to about 120.5 million. This strategic move aims to enhance shareholder value in the competitive energy sector.

Positive

Quarterly cash dividend of $0.15 per share.
Share repurchase of approximately 1.4 million shares, reducing total outstanding shares.

Negative

None.

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+0.76% session move Open Argus

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News Market Reaction – SM

The recorded move for SM in the trading session of this news was +0.76%.

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03/28/2023 - 04:15 PM EDT

DENVER, March 28, 2023 /PRNewswire/ -- SM Energy Company (NYSE: SM) today announces that its Board of Directors approved a quarterly cash dividend of $0.15 per share of common stock outstanding. The dividend will be paid on May 5, 2023, to stockholders of record as of the close of business on April 21, 2023. The Company currently has approximately 120.5 million shares of common stock outstanding, which reflects a reduction of approximately 1.4 million shares from the previously reported quarter that were repurchased by the Company during the first quarter of 2023.

ABOUT THE COMPANY

SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in the state of Texas. SM Energy routinely posts important information about the Company on its website. For more information about SM Energy, please visit its website at www.sm-energy.com.

SM ENERGY INVESTOR CONTACTS

Jennifer Martin Samuels, jsamuels@sm-energy.com, 303-864-2507

View original content to download multimedia:https://www.prnewswire.com/news-releases/sm-energy-declares-quarterly-cash-dividend-301783533.html

SOURCE SM Energy Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the dividend amount declared by SM Energy?

SM Energy has declared a quarterly cash dividend of $0.15 per share.

When will the dividend be paid?

The dividend will be paid on May 5, 2023.

What is the record date for SM Energy's dividend?

The record date for the dividend is April 21, 2023.

How many shares does SM Energy have outstanding?

SM Energy currently has approximately 120.5 million shares outstanding.

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SM ENERGY DECLARES QUARTERLY CASH DIVIDEND