The Jadestone PLC Directors intend to recommend a 2020 final dividend of USȼ1.08/share, or US$5.0 million in total. The Directors intend to recommend the 2020 final dividend following the completion of the internal restructuring, including the arrangement agreement becoming effective on or around 23 April 2021, and the completion of the capital reduction of Jadestone Energy plc which is expected to become effective during the second half of May. At that point, the Directors will confirm the recommended 2020 final dividend, including the record date and the ex dividend date. Jadestone Energy plc's first annual general meeting ("AGM") is scheduled for 16 June 2021, at which time it is expected that shareholders will vote to approve this 2020 final dividend. The actual payment date is expected to occur seven calendar days following the AGM.
The Company's growth-oriented strategy remains unchanged; the business model is highly cash-generative, and, as a result, is fundamentally pre-disposed to providing cash returns, after allowing for organic reinvestment needs, whilst maintaining a conservative capital structure, and not unduly limiting options for further inorganic growth. The Company intends to maintain and grow the dividend over time, in line with underlying cash flow generation. The Company does not offer a dividend reinvestment plan, and does not offer dividends in the form of ordinary shares.