Sitio Royalties Corp. (STR) reported late Wednesday that its fourth-quarter net loss was $91.72 million, compared to last year's profit of $4.59 million.
The results mainly reflected a $144.5 million non-cash loss on sale of assets in the Appalachian and Anadarko Basins, and lower prices.
Adjusted EBITDA was $134.91 million, compared to $93.09 million last year. Pro Forma Adjusted EBITDA was $143.61 million, compared to $169.46 million last year.
Further, the company declared fourth-quarter dividend of $0.51 per share of Class A Common Stock, an increase of approximately 4% from the third quarter.
Sitio's Board of Directors also authorized a $200 million share repurchase program, which has no expiration date and is expected to commence in early March 2024.
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