SM Energy Co.’s board of directors approved a quarterly cash dividend of $0.15 per share of common stock outstanding, the company said Dec. 29.

The dividend will be paid on Feb. 6 to stockholders on record as of the close of business on Jan. 20.

The company currently has approximately 121.9 million shares of common stock outstanding, which reflects a reduction of approximately 900,000 shares from the previously reported quarter that were repurchased by the company during the fourth quarter of 2022.

SM Energy operators in the Midland Basin and South Texas.