Earthstone Declares ‘Special’ Cash Dividend
A little more than two months after Permian Resources Corp. announced its merger with Earthstone Energy Inc. for $4.5 billion in an all-stock transaction, Earthstone declared a special cash dividend of $0.14 per share of Class A and Class B common stock.
The dividend is conditional upon the closing of the transaction, expected Nov. 1, and is in accordance with the merger agreement.
The dividend from The Woodlands-based E&P is payable Nov. 6 to shareholders of record as of Oct. 31.
Additionally, the company stated that Permian Resources, Earthstone, their respective directors and executive officers may be deemed participants in the proxy solicitation in respect of the transaction.
