OKLAHOMA CITY, July 6, 2015 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) today announced that its Board of Directors has declared a $4.25 per share semi-annual dividend on its shares of 8.5% Convertible Perpetual Preferred Stock that will be paid in shares of Company Common Stock on August 15, 2015 to holders of record on August 1, 2015. Pursuant to Section 3A of the Certificate of Designation governing the terms of the Preferred Stock, for the purpose of the dividend payment, one share of Common Stock will be valued at 95% of the average of the per share volume-weighted average prices for the 15 consecutive trading day period ending July 29, 2015. The company has 2,650,000 shares of 8.5% Convertible Perpetual Preferred Stock outstanding.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma with its principal focus on developing high-return, growth-oriented projects in the Mid-Continent region of the United States. In addition, SandRidge owns and operates a saltwater gathering and disposal system and a drilling rig and related oil field services business.
Duane M. Grubert EVP – Investor Relations and Strategy SandRidge Energy, Inc. 123 Robert S. Kerr Avenue Oklahoma City, OK 73102 +1 (405) 429-5515
SOURCE SandRidge Energy, Inc.