Ithaca Energy has declared a $255 million interim dividend, the latest cash return from a North Sea producer that has made shareholder distributions a central pillar of its capital allocation.
The payout follows a first quarter in which the company generated $571 million of adjusted EBITDAX on average production of 126 thousand barrels of oil equivalent per day, while available liquidity rose to $1.6 billion and the adjusted net debt to pro forma EBITDAX ratio fell to 0.54 times. Full-year 2025 results showed adjusted EBITDAX of $2.0 billion, net cash from operations of $1.7 billion and free cash flow of $683.3 million, supporting a total 2025 dividend of $500 million.
Management has reaffirmed its 2026 dividend guidance of $470–520 million and indicated the payout is trending toward the upper end of that range, implying a full-year distribution above $500 million. The policy targets 30% of post-tax cash flow from operations, up from a previous 15–30% band.
At recent share prices the stock yields approximately 9.3%, placing it among the highest-yielding names in the UK-listed exploration and production sector. That yield reflects a dividend history that has been volatile since the November 2022 listing: 2023 paid $399.6 million, 2024 $498.4 million and 2025 $498.4 million.