REG - Vaalco Energy Inc - SECOND QUARTER 2025 DIVIDEND

VAALCO EnergyAnnouncement

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RNS Number : 8558H  Vaalco Energy Inc  08 May 2025

 

 

 

VAALCO ENERGY, INC. DECLARES SECOND QUARTER 2025 DIVIDEND

 

 

HOUSTON - May 8, 2025 - 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 second quarter of 2025 ($0.25
annualized), which is payable on June 27, 2025, to stockholders of record at
the close of business on May 23, 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 second quarter 2025 dividend, marking our 14th consecutive
quarterly dividend.  We have an active investment program underway and we are
seeing volatility in commodity prices, but we remain committed to paying a
sustainable, meaningful dividend to our shareholders."

 

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

 Vaalco Energy, Inc. (General and Investor Enquiries)  +00 1 713 543 3422
 Website:                                              www.vaalco.com

 Al Petrie Advisors (US Investor Relations)            +00 1 713 543 3422
 Al Petrie / Chris Delange

 Buchanan (UK Financial PR)                            +44 (0) 207 466 5000
 Ben Romney / Barry Archer                             VAALCO@buchanan.uk.com

 

 

Forward Looking Statements

 

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended 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 Floating
Production Storage and Offloading vessel servicing the Baobab field; and the
risks described under the caption "Risk Factors" in Vaalco's 2024 Annual
Report on Form 10-K filed with the SEC on March 17, 2025 and subsequent
Quarterly Reports on Form 10-Q filed with the SEC.

 

Dividends beyond the second 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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