Energy XXI (Bermuda) Limited Increases Dividend on Common Shares (0438E)
07 May 2013 - 4:01PM
UK Regulatory
TIDMEXXI
RNS Number : 0438E
Energy XXI (Bermuda) Limited
07 May 2013
Energy XXI Increases Dividend on Common Shares,
Declares Regular Quarterly Dividends on Preferred Shares
HOUSTON - May 6, 2013 - Energy XXI (Nasdaq:EXXI) (LSE:EXXI)
today announced its Board of Directors declared a quarterly
dividend of $0.12 per share of common stock, representing a 71
percent increase from the previous rate. The dividend is to be paid
on June 14, 2013 to shareholders of record on May 31, 2013. The
company currently has 79,374,772 shares of common shares
outstanding. The Board of Directors will determine future dividends
for Energy XXI common stock on a quarterly basis, with the amount
dependent upon earnings, financial condition, capital requirements
and other factors.
The Board of Directors also declared a $1.8125 per share
quarterly dividend on its shares of 7.25% Convertible Perpetual
Preferred Stock, which have a face value of $100 per share, and a
$3.5156 per share quarterly dividend on its shares of 5.625%
Convertible Perpetual Preferred Stock, which have a face value of
$250 per share. Dividends on both issues will be paid in cash on
June 14, 2013 to the holders of record on May 31, 2013. The company
currently has 8,000 shares of its 7.25% Convertible Perpetual
Preferred Stock outstanding and 813,188 shares of its 5.625%
Convertible Perpetual Preferred Stock outstanding.
About the Company
Energy XXI is an independent oil and natural gas exploration and
production company whose growth strategy emphasizes acquisitions,
enhanced by its value-added organic drilling program. The company's
properties are located in the U.S. Gulf of Mexico waters and the
Gulf Coast onshore. Cantor Fitzgerald Europe is Energy XXI's
listing broker in the United Kingdom. To learn more, visit the
Energy XXI website at www.EnergyXXI.com.
Enquiries of the Company
Energy XXI
Stewart Lawrence
Vice President, Investor Relations and Communications
713-351-3006
slawrence@energyxxi.com
Greg Smith
Director, Investor Relations
713-351-3149
gsmith@energyxxi.com
Cantor Fitzgerald Europe
Nominated Adviser: David Porter, Rick Thompson
Corporate Broking- Richard Redmayne
Tel: +44 (0) 20 7894 7000
Pelham Bell Pottinger
James Henderson
jhenderson@pelhambellpottinger.co.uk
Mark Antelme
mantelme@pelhambellpottinger.co.uk
+44 (0) 20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
END
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