TXO Energy Partners (NYSE: TXO) said this week its Board of Directors had authorized a regular quarterly cash dividend of $0.57 per share of common stock.

The dividend will be paid on August 27th to shareholders of record as of the close of business on August 20th 2024, the company said.

“Our financial focus for the unit holders is stewardship of capital – in our allocation to producing assets, in our strong balance sheet, and critically, in our distribution of cash flow. As our investors enjoy quarterly cash returns, we will focus on accretive value creation,” Bob R. Simpson, Chairman and CEO, said in a press release.

“Our re-entry into the Greater Williston Basin affirms our successful strategy of allocating capital with our production and distribution model,” Brent Clum, President of Business Operations and CFO, commented.

“We remain on track to close our transactions by the end of August and look forward to the fourth quarter for the full impact on our production and cash flows.”

Stock Performance

The shares of TXO Energy Partners (TXO) closed 0.10% ($0.02) higher at $20.37 in New York on Friday, as they extended the gains from the previous two market sessions.

The company’s total market cap now stands at $782.479 million.

The shares of TXO Energy Partners (TXO) went down 17.36% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).

The company’s shares have risen 12.05% so far this year.

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