Berry Corporation hikes dividend by 50%

Berry Corporation (BRY), formerly Berry Petroleum, will hike its quarterly dividend by 50 percent to 6 cents per share in 2021. Earlier this year BRY reinstated its dividend with a 4 cent quarterly dividend. Last year the company suspended its quarterly dividend. The company initiated a quarterly dividend of 9 cents per share in August 2018 and hiked its payment once in November 2018 before the 2020 suspension. 

The next quarterly dividend of 6 cents per share will be paid on October 15, 2021. The new dividend yield is 4.1%.

Berry is a western United States independent upstream energy company with a focus on the conventional, long-lived oil reserves in the San Joaquin basin of California. Berry Corporation became a public company as Berry Petroleum in July 2018 and had been paying a dividend since 2018 prior to the suspension announced in April 2020.