HOUSTON, May 6, 2013 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq:EXXI) (LSE:EXXI) today announced its Board of Directors declared a quarterly dividend of $0.12 per share of common stock, representing a 71 percent increase from the previous rate. The dividend is to be paid on June 14, 2013 to shareholders of record on May 31, 2013. The company currently has 79,374,772 shares of common shares outstanding. The Board of Directors will determine future dividends for Energy XXI common stock on a quarterly basis, with the amount dependent upon earnings, financial condition, capital requirements and other factors.
The Board of Directors also declared a $1.8125 per share quarterly dividend on its shares of 7.25% Convertible Perpetual Preferred Stock, which have a face value of $100 per share, and a $3.5156 per share quarterly dividend on its shares of 5.625% Convertible Perpetual Preferred Stock, which have a face value of $250 per share. Dividends on both issues will be paid in cash on June 14, 2013 to the holders of record on May 31, 2013. The company currently has 8,000 shares of its 7.25% Convertible Perpetual Preferred Stock outstanding and 813,188 shares of its 5.625% Convertible Perpetual Preferred Stock outstanding.
About the Company
Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company's properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore. Cantor Fitzgerald Europe is Energy XXI's listing broker in the United Kingdom. To learn more, visit the Energy XXI website at www.EnergyXXI.com.
CONTACT: ENQUIRIES OF THE COMPANY Energy XXI Stewart Lawrence Vice President, Investor Relations and Communications 713-351-3006 email@example.com Greg Smith Director, Investor Relations 713-351-3149 firstname.lastname@example.org Cantor Fitzgerald Europe Nominated Adviser: David Porter, Rick Thompson Corporate Broking - Richard Redmayne Tel: +44 (0) 20 7894 7000 Pelham Bell Pottinger James Henderson email@example.com Mark Antelme firstname.lastname@example.org +44 (0) 20 7861 3232