Northern Oil and Gas, Inc. (NOG) recently revealed its plan to pay stockholders a cash dividend of 42 cents per share, marking a 5% increase from the previous year’s quarterly dividend. The dividend is set to be distributed on January 31, 2025, to stockholders listed on record as of December 30, 2024.
Additionally, the company intends to raise its dividend in the next quarter by 10% compared to 2024 levels.
NOG Targets Double-Digit Dividend Growth for 2025
NOG establishes its dividend strategy annually before announcing the first quarter dividend. For 2025, the decision has been made to boost the quarterly dividend to 45 cents per share, reflecting an anticipated 10% increase from 2024 figures. This move is backed by the company’s strong cash flow and a disciplined approach to finance.
The new dividend policy may be adjusted as needed in response to significant shifts in commodity prices or important corporate changes.
NOG Focused on Returning Value to Investors
Currently holding a Zacks Rank of #3 (Hold), NOG is committed to sharing the benefits of its growth with shareholders. The incremental dividend approach illustrates a solid return model that maintains a reasonable payout ratio while offering promising growth opportunities.
For more insights, you can find the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other companies that recently announced dividend increases include PBF Energy Inc. (PBF), Liberty Energy Inc. (LBRT), and Exxon Mobil Corporation (XOM).
PBF Energy, along with its third-quarter earnings report, announced a 10% hike in its quarterly dividend. The new dividend of 27.5 cents was distributed on November 27 to shareholders of record as of November 13.
Prior to its earnings release, Liberty Energy’s board revealed a dividend of 8 cents per share, payable on December 20 to stockholders who are on record as of December 6. This increase of 14% builds on the previous quarterly dividend of 7 cents per share.
Meanwhile, ExxonMobil has continued its 42-year streak of dividend growth with a 4% increase, raising its quarterly dividend to 99 cents per share on November 1.
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Exxon Mobil Corporation (XOM): Free Stock Analysis Report
PBF Energy Inc. (PBF): Free Stock Analysis Report
Northern Oil and Gas, Inc. (NOG): Free Stock Analysis Report
Liberty Energy Inc. (LBRT): Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
