Unit Corporation announces dividend – Oklahoma Energy Today

Unit Corporation announced that a quarterly cash dividend of $1.25 per share of common stock for the second quarter of 2026 will be paid on June 26, 2026, to shareholders of record as of the close of business on June 16, 2026. The quarterly cash dividend will be funded by cash on the Company’s balance sheet.
The dividend announcement followed Unit’s May 7th release of its first quarter earnings state. Unit also said during the first quarter, on April 27, 2026, the Company entered into a purchase and sale agreement to sell certain oil and gas leasehold interests, consisting of deep rights in the Woodford and Mississippian formations underlying acreage located in Caddo and Blaine Counties, Oklahoma, for an aggregate purchase price of approximately $18.7 million, subject to customary purchase price adjustments. The transaction is expected to close within 60 days of execution, subject to customary closing conditions.
Phil Frohlich, Chief Executive Officer, commented, “this divestiture of deeper rights in the Woodford and Mississippian formations reflects our ongoing effort to streamline the portfolio and focus on areas where we see the strongest returns. By monetizing these non-core undeveloped interests, we’re sharpening our operational focus. We’re particularly encouraged by the opportunities emerging in the Cherokee Shale and Red Fork formations, where we continue to see meaningful development potential.”
Unit recently reported net income from operations totaled $29,067,000 compared to $28,387,000 a year earlier. Final net income totaled $4,662,000 for 2026, far below the $17,936,000 million recorded a year ago.
About Unit Corporation
Unit Corporation is a Tulsa-based, publicly held energy company engaged in oil and natural gas production through its wholly owned subsidiary, Unit Petroleum Company.
Jerry Bohnen is the founder and creator of OK Energy Today, which began in 2012. He is an Edward R. Murrow Investigative award winner and has been recognized by other national, regional and state institutions during his 50 years as a broadcast journalist. Contact Jerry at editor@okenergytoday.com
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