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Hess Corporation announces quarterly dividend

EditorNatashya Angelica
Published 05/16/2024, 05:17 AM
Updated 05/16/2024, 05:18 AM

NEW YORK - Hess Corporation (NYSE: NYSE:HES), an independent global energy company, has declared a regular quarterly dividend for its shareholders. The dividend of 43.75 cents per share on the Common Stock will be payable on June 28, 2024, to stockholders of record at the close of business on June 14, 2024.

The announcement reaffirms the company's practice of delivering shareholder returns through regular dividends. Hess Corporation's operations focus on the exploration and production of crude oil and natural gas, with a strategic presence in key global energy markets.

This financial decision is part of the company's ongoing capital allocation strategy and reflects its commitment to providing consistent returns to its investors. Shareholders looking forward to the dividend payout should ensure their records are updated before the June 14 deadline.

The declaration of dividends is a common practice among publicly traded companies, allowing them to distribute a portion of their earnings back to their shareholders. The amount and frequency of dividends are determined by the company's board of directors and can serve as an indicator of the company's financial health and stability.

Hess Corporation's announcement is based on a press release statement and is intended for current and potential investors to stay informed about the company's financial distributions. This information is particularly relevant for market participants and analysts tracking the company's performance and investment potential.

Investors and media seeking further details can contact Hess Corporation through their investor and media relations representatives. However, as per company policy and standard practice, no additional comments or insights into the company's strategic decisions or future financial projections are provided beyond the scope of the press release.

InvestingPro Insights

Hess Corporation (NYSE: HES) remains a robust player in the energy sector, with recent metrics and insights from InvestingPro underscoring its financial health and investment potential. The company's market capitalization stands strong at $48.13 billion, reflecting its significant presence in the industry. With a Price/Earnings (P/E) ratio of 23.81, and a slightly adjusted P/E of 23.36 for the last twelve months as of Q1 2024, Hess demonstrates a balance between its share price and earnings power.

InvestingPro Tips highlight that Hess Corporation is a model of consistency, maintaining dividend payments for an impressive 38 consecutive years. This commitment to shareholders is complemented by the company's moderate level of debt and a low price volatility in its stock trading, suggesting a reliable investment. Notably, analysts have revised their earnings upwards for the upcoming period, indicating positive sentiment around the company's financial prospects.

With a Gross Profit Margin of 75.4% for the last twelve months as of Q1 2024, Hess showcases its ability to effectively manage its production costs and maintain profitability. Moreover, the company's stock is trading near its 52-week high, currently at 93.43% of this peak value, which may attract investors looking for stocks with upward momentum.

For those interested in deeper analysis and additional insights, there are more InvestingPro Tips available. With a subscription to InvestingPro, users can gain access to a comprehensive list of tips and metrics that can inform investment decisions. Remember to use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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