Market Overview

Denbury to Initiate Regular Quarterly Dividends in Q1 2014

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Denbury Resources Inc. (NYSE: DNR) ("Denbury" or the "Company") today announced that senior management will review the following key developments at the Company's annual analyst day being held tomorrow:

The intention to initiate regular quarterly dividends to common shareholders beginning in the first quarter of 2014

The appointment of John P. Dielwart to the Board of Directors

2014 production and capital expenditure estimates

An increase in the amount authorized under the Company's share repurchase program

Management Comment

Phil Rykhoek, Denbury's President and CEO commented, "This is an important day for Denbury as we announce several new developments that will define our Company for many years to come. Our focused strategy, significant inventory of development projects and proven track record of value creation give us confidence that we can deliver a long-term cash flow profile that is unique among independent oil companies, and enables us to expand our shareholder value proposition to include both growth and income.

"Our shift to a growth and income company does not contemplate any changes to our corporate structure or the creation of a master limited partnership, since we are not satisfied that any such changes would create a significant and sustained increase in shareholder

See full press release

 

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