Company: MGY
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001698990-25-000013
Chunk: 17

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 17
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, as amended, which would permit the Company to repurchase shares at times that may otherwise be prohibited under the Company’s insider trading policy. The share repurchase program does not require purchases to be made within a particular time frame. The Company had repurchased 40.4 million shares under the program at a cost of $759.8 million and had 9.6 million shares of Class A Common Stock remaining under its share repurchase authorization as of March 31, 2025.Dividends and DistributionsThe Company’s board of directors periodically declares dividends payable on issued and outstanding shares of Class A Common Stock, and a corresponding distribution from Magnolia LLC to Magnolia LLC Unit Holders. Dividends in excess of retained earnings are recorded as a reduction of additional paid-in capital and distributions to the Magnolia LLC Unit Holders are recorded as a reduction of noncontrolling interest.

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The following table sets forth information with respect to cash dividends and distributions declared by the Company’s board of directors during the three months ended March 31, 2025 and the year ended December 31, 2024, on its own behalf and in its capacity as the managing member of Magnolia LLC, on issued and outstanding shares of Class A Common Stock and Magnolia LLC Units:Record DatePayment DateDividend/Distribution Amount per share (1)Distributions by Magnolia LLC (2)Dividends Declaredby the CompanyDistributions to Magnolia LLC Unit Holders(In thousands, except per share amounts)February 14, 2025March 3, 2025$0.15 $29,740 $28,911 $829 November 8, 2024December 2, 2024$0.13 $25,814 $25,096 $718 August 9, 2024September 3, 2024$0.13 $26,119 $24,694 $1,425 May 13, 2024June 3, 2024$0.13 $26,657 $23,820 $2,837 February 16, 2024March 1, 2024$0.13 $26,824 $23,987 $2,837 (1)    Per share of Class A Common Stock and per Magnolia LLC Unit.(2)    Reflects total cash dividend and distribution payments made, or to be made,