On 20 September 2022, the Jadestone Energy Plc Directors declared a 2022 interim dividend of 0.65 US cents/share, equivalent to a total distribution of US$3.0 million. The timetable for the dividend payment is as follows:
l Ex-dividend date: 29 September 2022
l Record date: 30 September 2022
l Payment date: 14 October 2022
The Group's growth-orientated strategy remains unchanged, with the objective of establishing a leading Asia-Pacific upstream company through acquiring and maximising the value of producing fields and development assets. The Group prioritises organic reinvestment, and maintains a conservative capital structure in order to capitalise on inorganic growth opportunities as they arise. Notwithstanding this, the Group believes that its production and development led business model is fundamentally pre-disposed to provide meaningful shareholder returns, particularly during times of higher oil prices. The Company targets a sustainable base dividend, with a targeted split one-third to an interim dividend and two-thirds to a final dividend, growing over time in line with underlying cash flow generation. The base dividend may be augmented over time by additional shareholder returns (in the form of share buybacks, special dividends and/or tender offers) if deemed appropriate by the Company.