Q2 2023 Dividend Exchange Rate
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Diversified Energy Company PLC (LSE: DEC) announced, on 1 September 2023, an interim dividend in respect of the second quarter ended 30 June 2023 of 4.375 cents per share of £0.01 each ("Q2 2023 Dividend"). This per share amount reflects the record date for the dividend occurring prior to the 20 for 1 share consolidation on Tuesday, 5 December 2023 (the "Consolidation"). As previously announced, the Company intends to pay the Q2 2023 Dividend on 29 December 2023 to those shareholders on the register on 1 December 2023.
The Company announces that shareholders who have elected to receive Q2 2023 Dividend in GBP sterling will receive an equivalent payment of 3.42 pence per share, based on the 14 December 2023 exchange rate of GBP 0.78185=US $1.00.
Beginning with the Q3 2023 dividend payment as announced on 15 November 2023, the per share dividend will be reflected on a post-Consolidation basis.
Illustrative Dividend Payment Example:
The illustrative Q3 2023 dividend payment example provides shareholders with a calculation for how the Q3 2023 Dividend payment will be adjusted for ordinary shares of £0.20 each as of the record date.
Pre-Consolidation: 100 shares x $0.04375 (declared dividend) = $4.375 (total shareholder payment)
Post-Consolidation: 5 shares x $0.875 (adjusted declared dividend) = $4.375 (total shareholder payment)
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