{"id":8832,"date":"2022-11-09T04:37:39","date_gmt":"2022-11-09T04:37:39","guid":{"rendered":"https:\/\/www.geo-park.com\/?post_type=press_releases&#038;p=8832"},"modified":"2023-03-21T11:28:52","modified_gmt":"2023-03-21T16:28:52","slug":"geopark-announces-quarterly-cash-dividend-of-0-127-per-share-and-renewal-of-share-repurchase-program","status":"publish","type":"press_releases","link":"https:\/\/www.geo-park.com\/es\/press_releases\/geopark-announces-quarterly-cash-dividend-of-0-127-per-share-and-renewal-of-share-repurchase-program\/","title":{"rendered":"GeoPark Announces Quarterly Cash Dividend of $0.127 Per Share and Renewal of Share Repurchase Program"},"content":{"rendered":"<h3 style=\"text-align: center;\">GEOPARK ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.127 PER SHARE AND RENEWAL OF SHARE REPURCHASE PROGRAM<\/h3>\n<p><strong>Bogota, Colombia<\/strong> \u2013 GeoPark Limited (\u201cGeoPark\u201d or the \u201cCompany\u201d) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announced that its Board of Directors has declared a quarterly cash dividend of $0.127 per share, payable on December 7, 2022, and the renewal, until December 31, 2023, of the share repurchase program for up to 10% of its outstanding shares. All figures are expressed in US Dollars.<\/p>\n<p><strong>Quarterly Cash Dividend<\/strong><\/p>\n<ul>\n<li>The Board of Directors has declared a quarterly cash dividend of $0.127 per share ($7.5 million in the aggregate) payable on December 7, 2022, to the shareholders of record at the close of business on November 23, 2022<\/li>\n<\/ul>\n<p><strong>Renewal of Share Buyback Program\u00a0<\/strong><\/p>\n<ul>\n<li>GeoPark concluded its 2021-2022 share repurchase program on November 9, 2022, with 2,176,468 shares acquired, and a total amount invested of $29,340,864 including transaction costs<\/li>\n<li>The Board of Directors has approved the renewal, until December 31, 2023, of the repurchase program for up to 10% of its outstanding shares or approximately 5,854,285 shares<\/li>\n<li>The share repurchases may be made from time to time through open market transactions, block trades, privately negotiated transactions or otherwise, and are subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, regulatory considerations, and other relevant factors<\/li>\n<\/ul>\n<p>As detailed in our 2023 Work Program and Investment Guidelines, GeoPark plans to deliver another year of strong operational and financial performance, and free cash flow generation. The Company is also targeting the return of 40-50% of its free cash flow\u00b9 to shareholders through a combination of base dividends and discretionary buybacks and\/or variable dividends.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.geo-park.com\/wp-content\/uploads\/2022\/11\/GeoPark-Announces-Quarterly-Dividend.pdf\" target=\"_blank\" rel=\"noopener\"><b>\u2192 <\/b>Read the full press release.<\/a><\/p>\n<p>\u00b9Free cash flow is used here as Adjusted EBITDA less capital expenditures and mandatory interest payments, after applicable income taxes being accrued in 2023 and to be paid between 2023 and early 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GEOPARK ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.127 PER SHARE AND RENEWAL OF SHARE REPURCHASE PROGRAM<\/p>\n","protected":false},"template":"","press_releases_solution":[],"class_list":["post-8832","press_releases","type-press_releases","status-publish","hentry"],"acf":{"location_p_r":"","lead_p_r":"","external_link":"","gallery_p_r":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - 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