SandRidge Energy, Inc. Declares Semi-Annual Preferred Stock Dividend
OKLAHOMA CITY, April 1, 2015 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) today announced that its Board of Directors has declared a $3.50 per share semi-annual dividend on its shares of 7.0% Convertible Perpetual Preferred Stock that will be paid in shares of Company Common Stock on May 15, 2015 to holders of record on May 1, 2015. Pursuant to Section 3A of the Certificate of Designation governing the terms of the Preferred Stock, for the purpose of the dividend payment, one share of Common Stock will be valued at 95% of the average of the per share volume-weighted average prices for the 15 consecutive trading day period ending April 28, 2015. The company has 3,000,000 shares of 7.0% Convertible Perpetual Preferred Stock outstanding.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas Company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its subsidiaries also own and operate gas gathering and processing facilities, saltwater gathering and electrical infrastructure facilities and conduct marketing operations. In addition, Lariat Services, Inc., a wholly-owned subsidiary of SandRidge, owns and operates a drilling rig and related oil field services business. SandRidge focuses its exploration and production activities in the Mid-Continent region of the United States. SandRidge's internet address is www.sandridgeenergy.com
Duane M. Grubert
EVP – Investor Relations and Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-5515
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SOURCE SandRidge Energy, Inc.
Source: PR Newswire
(April 1, 2015 - 4:15 PM EDT)
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