Pioneer Natural Resources Delivers a Dividend Gusher in Q2
Pioneer Natural Resources (NYSE: PXD) generated a gusher of cash flow during the second quarter, fueled by higher oil prices and recent acquisitions. That gave the oil company confidence to accelerate the timing of its variable dividend program. At $1.51 per share, the inaugural payout is nearly three times its regular quarterly dividend payment of $0.56 per share.
That big-time payout is likely the first of many for the oil company in the coming years as it aims to return the bulk of its free cash flow to investors.
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Source Fool.com
