May 9, 2023

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Houston-based VAALCO Energy, Inc. (EGY) announced that it will pay a quarterly cash dividend of $0.0625 per share of common stock for the second quarter of 2023, which will be payable on June 23, 2023, to shareholders of record as of May 24, 2023.

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Dividend Increase

VAALCO Energy, Inc.'s latest announcement of a quarterly dividend represents an increase of 92% over the previous quarter's payout, demonstrating the company's commitment to enhancing shareholder value.

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CEO's Statement

According to George Maxwell, VAALCO's Chief Executive Officer, the company is pleased to continue delivering shareholder value. He stated, "We believe that it is important for exploration and production ("E&P") companies to deliver sustainable shareholder returns. We have premier assets in Gabon, Egypt, and Canada generating strong operational results, allowing us to return meaningful cash to our shareholders through dividends and share buybacks."

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Future Dividend Declarations

VAALCO Energy, Inc. stated that its Board of Directors will decide on future declarations of quarterly dividends and the establishment of future record and payment dates. This decision is subject to approval by the Board of Directors, who will assess the company's financial position and cash flow projections.

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Members of LevelFields received the alert of this event on May 9, 5:35 AM ET

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