SandRidge Energy Inc.’s board of directors has declared a one-time dividend amounting to $2.00 per share and an on-going quarterly dividend of $0.10 per share, as well as authorized $75 million in stock buybacks, according to a May 12 press release .

The one-time, $2.00 per share dividend will be payable on June 7 to all shareholders on record as of May 24. The on-going, $0.10 per share quarterly dividend will be payable starting in August, and will continue every quarter until stated otherwise. Stock buybacks will be conducted “from time-to-time on the open market,” according to the release.

SandRidge Energy is an oil and gas company based primarily in the midcontinent region - in Oklahoma and Kansas.