StockMarketWire.com - Natural gas company Diversified Gas & Oil upped its dividend after reporting a rise in first-half core earnings.

For the six months ended 30 June 2020, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11% to $146m on-year.

Net income fell 17% to $18m on-year on impairments owing to lower energy prices.

Average first-half net production was 95.1 MBoepd, up 26% on-year.

The company declared an interim dividend of $0.0375 per share, up 7%, owing to the 'strength and durability' of its cash flows.

'As we enter the second half of 2020 with approximately $220m of total liquidity, a healthy balance sheet and with a focused and efficient operation, we are well-positioned to capitalise on the opportunities these challenging times create...' the company said.



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