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SandRidge Energy Sets Semi-Annual Preferred Dividend

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Oil and natural gas producer SandRidge Energy (NYSE: SD  ) announced yesterday its semi-annual dividend for its 6% convertible perpetual preferred stock, at $3 per share.

The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on July 1. SandRidge has 2 million shares of 6% preferred stock outstanding. The preferred shares were issued in December 2009, and five years after their issuance, or Dec. 21, 2014, all outstanding shares of the convertible preferred stock will be converted automatically into common stock at then-prevailing conversion prices.

SandRidge Energy does not pay a regular dividend on its common stock.


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Rich Duprey
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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.

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8/28/2015 1:11 PM
SD $0.54 Up +0.03 +6.74%
SandRidge Energy CAPS Rating: **

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