Presidio Production Company Raises Quarterly Dividend 11.1% to $0.375

Presidio Production Company’s board approved a quarterly cash dividend of $0.375 per share, raising the payout from $0.3375. The increase works out to 11.1%, and the new rate brings the annualized dividend to $1.50 per share.

The company set Dec. 2 as the record date for the payment, which is scheduled for Dec. 16. Future dividend amounts and timing remain at the board’s discretion.

Presidio posted a third-quarter net loss attributable to the company of $46.4 million. The loss included a $66.5 million noncash, unrealized loss on commodity derivatives.

The Fort Worth-based oil and natural gas operator’s Class A shares trade on the New York Stock Exchange under the ticker FTW.