Diamondback Energy Raises Quarterly Dividend 7.3% to $1.18

Diamondback Energy’s board approved a 7.3% increase in its quarterly base dividend to $1.18 per share from $1.10, lifting the annualized payout to $4.72 per share.

The new dividend is for the third quarter of 2026. Payment is scheduled for Nov. 19, and shareholders must be on record at the close of business Nov. 12 to qualify. The board approved the increase Nov. 2.

The annualized base rate rose from $4.40 per share and is 18% higher year over year. The 7.3% figure measures the increase from the previous quarterly payment; the 18% figure compares the annualized rate with the year-earlier level.

Operating cash flow reached $2.599 billion in the third quarter, while free cash flow totaled $2.148 billion; the company classifies free cash flow as a non-GAAP measure. The company also repurchased 1,348,209 shares for about $251 million. The company’s operations center on oil and natural gas reserves in West Texas’ Permian Basin.