Sanchez Energy to pay dividends on convertibles in common stock

Chicago, Nov. 19 – Sanchez Energy Corp. will pay 100% of the dividends on their convertible perpetual preferred stock in shares of common stock, according to a company news release.

The board of directors 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.

The quarterly dividends on the convertibles will be payable on Jan. 2 to holders of record on Dec. 14.

The company will pay 100% of the dividends on the convertibles in common stock to the extent permitted by the certificate of designations for each series of the convertibles.

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

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