Diversified Energy Company PLC Successfully Completes Buyback
Introduction to Diversified Energy Company PLC
Diversified Energy Company PLC, commonly referred to as "Diversified," is a prominent player within the energy sector, specializing in natural gas and liquids production, as well as transport, marketing, and well retirement. With a commitment to sustainable practices, the Company aims to responsibly produce energy and build dependable financial returns for its shareholders.
Recent Share Buyback Announcement
Recently, Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) announced details of its share buyback initiative. This program, established to enhance shareholder value and confidence in the Company’s long-term growth strategy, has witnessed significant activity leading to the acquisition of 123,586 Ordinary Shares at an average price of $13.7521 per Share through Mizuho Securities USA LLC (MSUSA). This move not only reflects the Company's robust capital management strategy but also demonstrates its commitment to returning value to shareholders.
Key Details of the Buyback Program
Transaction Highlights
The shares purchased through this buyback program will soon be cancelled, which is a standard procedure to reduce outstanding shares and improve earnings per share over time. The current number of Ordinary Shares in circulation, post-cancellation, will be 76,852,459. This transparency allows shareholders to calculate their ownership stakes in accordance with regulatory requirements.
Aggregated Trade Information
While engaging in these buyback transactions, the Company ensures adherence to the regulatory framework outlined in Article 5 of the Market Abuse Regulation. This includes providing detailed information regarding each individual trade executed by Mizuho Securities USA LLC, ensuring compliance and integrity in the process.
Understanding Shareholder Impact
The decision to undertake a buyback is often seen by investors as a sign of a company's confidence in its own future prospects. With 76,852,459 Ordinary Shares remaining post-cancellation, shareholders can better gauge their investments, utilizing this figure for the necessary calculations related to their interests in the Company. Such strategic moves are designed not just for immediate performance enhancement but for sustainable growth and stability.
Commercial and Operational Strategy
Diversified Energy’s comprehensive and differentiated approach is rooted in acquiring established, long-life energy assets. The Company's strategy emphasizes not just production, but also enhancing operational performance while ensuring environmental stewardship. Their investments aim to improve asset efficiency, paving the way towards safe and environmentally sound asset retirement.
Commitment to Sustainability
Recognized by various agencies for its leadership in sustainability, Diversified Energy is committed to addressing environmental concerns while producing reliable energy. By focusing on cash flow generation and minimizing the ecological footprint, Diversified distinguishes itself in a competitive market.
Contact Information
For further inquiries or information regarding the Company’s operations and strategies, stakeholders can reach out to:
Diversified Energy Company PLC
+1 973 856 2757
Doug Kris
dkris@dgoc.com
Senior Vice President, Investor Relations & Corporate Communications
www.div.energy
About Diversified Energy Company PLC
Seeking to establish itself as a leader in the energy production and delivery sector, Diversified Energy Company PC embraces a vision centered around responsible energy practices. This progressive approach ensures that the company remains dedicated to enhancing operational performance and building shareholder value effectively.
Frequently Asked Questions
What is the purpose of the share buyback program?
The buyback program aims to enhance shareholder value by reducing the number of outstanding shares, thereby increasing earnings per share over time.
How many shares did Diversified purchase in the buyback?
Diversified Energy Company PLC purchased a total of 123,586 Ordinary Shares during the buyback program.
What was the average price paid for the shares?
The average price paid for each share acquired was $13.7521.
What will happen to the purchased shares?
The purchased shares will be cancelled, reducing the overall number of shares in circulation.
Who can I contact for more information regarding the company?
You can contact Doug Kris at +1 973 856 2757 or via email at dkris@dgoc.com for investor relations inquiries.
About The Author
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