The U.S. stock market has been volatile as of late, as traders grapple with earnings season and the upcoming elections, but dividend-paying stocks may help investors smooth out the ride in their portfolios.
Moreen also highlighted the company's solid Q1 results and revised outlook. He highlighted the company's ability to support its higher distributions, thanks to an investment-grade balance sheet, modest capital expenditure requirements and constructive contracts that offer significant visibility into continued cash payout.
Hanold expects Q2 2024 shareholder returns to comprise a fixed dividend of 90 cents a share and a variable dividend of $1.25 per share, with no stock buybacks. He added,"We believe FANG shares should outperform its peer group over the next 12 months."
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