Matador Resources Company Announces Adoption of Dividend Policy and Payment of First Quarterly Cash Dividend
“Additionally, in recognition of our desire to provide value to Matador’s shareholders and the challenges faced during 2020, the rest of the Company’s Executive Officers and I have elected to forego receiving any bonuses for 2020 performance under Matador’s Annual Cash Incentive Plan, despite the Independent Directors of the Board certifying that Matador met or exceeded each of the maximum performance goals under the plan. The rest of the Company’s Executive Officers and I are committed to continuing to generate profitable growth at a measured pace, and we have elected to forego these bonuses to assist in the strengthening of our balance sheet and the adoption of the dividend policy.
“The Board and I would like to commend the entire Matador team for their positive and professional response to the challenges faced during 2020. We look forward to providing additional information tomorrow regarding our operational and financial results for the fourth quarter and full year 2020 as well as our plans for continued growth and return of value to shareholders in 2021. We remain confident in Matador’s future outlook, especially of our drilling and production inventory. We are excited to have reached this noteworthy point in the Company’s history with the adoption of a dividend policy and payment of our first cash dividend in
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in
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This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, increases in its borrowing base and otherwise; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and our business; the operating results of the Company’s midstream joint venture’s
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