On 23 August 2023, the Board of Ithaca Energy plc (LON:ITH) announced a second interim dividend of $133 million, representing $0.1321 per ordinary share. The second interim dividend will be paid on 29 September 2023 to shareholders on the share register on 1 September 2023.
As previously announced, the dividend is payable in cash in sterling to holders of ordinary shares. Sterling dividends will be converted from US dollars at the mid-point of the market exchange rate on 4 September 2023 (£1 = US$1.2621). Accordingly, the amount of sterling dividend payable in cash on 29 September 2023 will be 10.4667 pence per share.
Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions in recent years. Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the “UKCS”), ranking second by resources.
With stakes in six of the ten largest fields in the UKCS and two of UKCS’s largest pre-development fields, and with energy security currently being a key focus of the UK Government, the Group believes it can utilise its significant reserves and operational capabilities to play a key role in delivering security of domestic energy supply from the UKCS.
Ithaca Energy serves today’s needs for domestic energy through operating sustainably. The Group achieves this by harnessing Ithaca Energy’s deep operational expertise and innovative minds to collectively challenge the norm, continually seeking better ways to meet evolving demands.
