SandRidge Energy Boosts Quarterly Dividend 8% to $0.13, Declares $0.20 Special Dividend
SandRidge Energy reported Q1 2026 adjusted EBITDA of $33.7 million and net income of $18.7 million ($0.51/share), with production up 4% year-over-year to 18.6 MBoe/d and oil output up 31%. The board raised its quarterly dividend by 8% to $0.13/share and declared a one-time $0.20/share payout.
1. Q1 2026 Financial Performance
SandRidge Energy generated net income of $18.7 million ($0.51 per share) and adjusted net income of $21.6 million ($0.59 per share) for the three months ended March 31, 2026. Adjusted EBITDA reached $33.7 million, marking an $8.2 million increase versus both the prior quarter and the year-ago period.
2. Operational Highlights and Production
First-quarter production averaged 18.6 MBoe per day, a 4% increase versus Q1 2025, with oil production up 31% driven by two new wells drilled and three wells completed in the Cherokee development program. In April, the third well achieved the program's lowest drilled cost to date, underpinning improved cost efficiency.
3. Dividend Increase and Balance Sheet
On May 5, the board approved an 8% rise in the ongoing quarterly dividend to $0.13 per share and declared a one-time $0.20 per share special dividend payable June 1. As of March 31, SandRidge held $104.1 million in cash and equivalents, including $1.3 million restricted, with no outstanding term or revolving debt obligations.