Investor Presentaiton
Dividend per Common Share
Track Record of Dividend Growth
NOG has established a conservative through-cycle dividend level with potential upside. The current dividend run rate will be
evaluated annually during the first fiscal quarter and potentially adjusted to reflect 1-year forward expectations.
0.4
0.35
0.3
0.25
0.2
0.15
ACTUAL DIVIDENDS COMPARED WITH INITIAL 2021 DIVIDEND PLAN RECOMMENDATIONS
0.1
$0.08
$0.06
$0.05
0.05
$0.03
$0.15
$0.14
$0.12
$0.19
$0.18
$0.25
$0.38 (1)
$0.37
$0.34
$0.30
$0.30
$0.27
$0.24
$0.21
0
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22
Q1 23
Q2 23
Q3 23
Dividend Plan Milestones:
Original Plan
Actual
•
Ten straight quarters of dividend growth
•
~$150 million returned through Q3-23 to shareholders since plan was instituted
•
Cumulative dividends have exceeded initial plan by 34% and have increased 52% year over year
•
Board has instituted an annual Q1 dividend review with a potential adjustment aligned with NOG year-ahead financial expectations
1) Q3 23 dividend declared August 1, 2023; payable on October 31, 2023 to shareholders of record September 28, 2023.
Investor Presentation September 2023 | 23 NOGView entire presentation