Viper Energy Q2 net income rises 284.62% to $331 million; base dividend increases 32% to $2 per share annually

Viper Energy posted Q2 net income of $331 million, with net income attributable to shareholders of $142 million, or $0.73 per share.

Total operating income rose to $677 million; cash available for distribution to Class A holders totaled $262 million, or $1.37 per share.

The company declared a $0.38 base dividend and a $0.29 variable dividend, taking the total payout to $0.67 per share.

Effective Q3, it lifted the base dividend 32% to $2.00 per share annually, while dropping its quarterly commitment to return at least 75% of cash.

It initiated Q3 oil production guidance of 67,500-68,500 bo/d, raising full-year guidance to 66,000-67,250 bo/d.