Boston, MA 10/30/2013 (wallstreetpr) – SandRidge Energy, Inc. is an oil and natural gas company. The company has a presence in the Mid-continent, the Permian Basin, and the Gulf of Mexico pertaining to the development and production of oil and natural gas.
The company has announced a dividend for its preferred stockholders which will be payable on November 15, 2013, and the shareholders who are entitle to receive will be as on record date with November 1, 2013. The amount of dividend the board of directors has declared is around $3.50 per share on semi-annual basis.
The company made a declaration of appointment of a new chief executive officer and president of the company. The new CEO and president will be James Bennett. The appointment has lead the company to a more effective and cohesive leadership structure.
SandRidge Energy, Inc. has had a progressive growth of 25% in the last twelve months as the production of the company increased to more than 20% as compared to last quarter, and it has had a tremendous growth of 88% as compared to last year. As the company declares a semi –annual dividend on its shares of 7%, there will be a payment in cash to convertible perpetual preferred stock holders which will motivate the investors to take an active part in the company.
There is an increase in the cost of the company, which had increased to $14.73 as compared to $13.77 per boe because of buying off shore properties; the debt of the company has reduced to a great extent as it will help by paying lesser interest on loan.
The company is performing better in stock even after the target was made by activists. It performed well and the stock of the company rose by 2% to $5.89; it reported $34 million per share as compared to a profit of $804 million or $1.46 per shares. In a way, the company is performing well in its share price, as well as the profitability.