On 30 April 2021 the Diversified Energy Group proposed a dividend of $0.04 per share. The dividend will be paid on 24 September 2021 to shareholders on the register on 3 September 2021. This dividend was not approved by shareholders, thereby qualifying it as an "interim" dividend. No liability was recorded in the Interim Financial Statements in respect of this interim dividend as at 30 June 2021.
Other financial highlights include:
• Record average net daily production: 106 MBoepd (11% vs 1H20: 95 MBoepd); Exit rate of 116 MBoepd
• 1H21 Hedged Adjusted EBITDA of $151 million ( +3% vs 1H20: $146 million) generating Free Cash Flow of $117 million with Cash Margin of more than 50%
• Net Income & Adjusted Net Income (which excludes $278 million ($371 million, pre-tax) of non-cash hedge valuation losses)
◦ Net loss of $84 million or $0.11 per fully diluted share (1H20: +$18 million, +$0.03/share)
◦ Adjusted Net Income of $204 million or $0.28 per fully diluted share (1H20: +$112 million, +$0.17/share)
◦ Net Income includes an estimated $81 million tax credit earned on wells producing >90 Mcf/day
• Announced upcoming Capital Markets Day in early October with an emphasis on outlining the Company's near and longer-term ESG initiatives
