Cue Energy Resources has declared a special dividend of 2 cents per share, equivalent to approximately $14 million.
The dividend, which is unfranked, comes as a result of Cue's positive cashflow generation and strong cash position of $23.2m as of Dec 31 2023.
New Zealand Oil & Gas, which holds a 50.04% interest in Cue, expects to receive a total of $7m from the dividend payment.
Cue also announced the establishment of a dividend policy to support future shareholder returns.
The record date for the dividend is March 22 2024, with a payment date set for April 5 2024.
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