Sanchez to pay dividends in stock on convertible perpetual preferreds

By Susanna Moon

Chicago, Nov. 21 – Sanchez Energy Corp. will pay out all of its dividends in shares of common stock on its two series of convertible perpetual preferred stock.

The company’s board of directors has declared a quarterly dividend of $0.609375 per share on its 4.875% convertible perpetual preferred stock, series A, and $0.812500 per share on its 6.5% convertible perpetual preferred stock, series B, according to a company announcement.

The quarterly dividends will be payable on Jan. 3 to holders of record on Dec. 15.

The common shares issued as dividends on the convertible perpetual preferreds will be listed and tradable on the New York Stock Exchange, the company noted.

Sanchez Energy is an oil and natural gas exploration and production company based in Houston.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.