Diversified Energy Company PLC (LSE:DEC, NYSE:DEC, FRA:DG20) declared a US$0.29 per share interim dividend for the fourth quarter of 2025 after reporting what it described as a record year powered by acquisitions and stronger cash generation.
“I am grateful to our Diversified employees who delivered an incredible 2025 performance and, measured by most metrics, produced the best operational and financial results in our history.
"We are pleased to report that these results exceeded the upwardly revised guidance range for Adjusted EBITDA and Adjusted Free Cash Flow, demonstrating once again our culture of execution and accountability.
"Importantly, with the robust cash flow generated from our assets, we reinforced our proven performance with $277 million in systematic debt reduction, $185 million in combined dividends and share repurchases, and approximately $2 billion in accretive acquisitions for the year."
Looking at the numbers, for 2025, the NYSE- and London-listed group said revenue rose to US$1.829bn from US$757m, while net income swung to US$342m from a US$103m loss a year earlier. Adjusted EBITDA increased to US$956m (2024: US$470m) and adjusted free cash flow climbed to US$440m (2024: US$210m), supported by the integration of around US$2bn of acquisitions including Maverick Natural Resources and Canvas Energy.
Diversified ended the year with a 2.3x leverage ratio on a net debt-to-pro forma adjusted EBITDA basis, down from 3.0x at the end of 2024, and said it returned over US$185m to shareholders through dividends and repurchases while also reducing ABS principal by US$277m.
For 2026, it guided to US$925m–US$975m adjusted EBITDA and about US$430m adjusted free cash flow, alongside production of 1,170–1,210 MMcfe/d.
"Our 2026 guidance reflects continued disciplined growth, portfolio optimization, and strong free cash flow generation as we look to unlock additional shareholder value from our high-quality assets.
"I am very excited about the future of Diversified. Both our team and our portfolio of assets are aligned with powerful megatrends: power generation, data centers, and LNG export. Our unique business model, underpinned by our organizational culture of focused execution to GSD (Get Stuff Done), will enable us to capitalize on these trends and drive long-term shareholder value."
Separately, the company announced it latest acquisition - a $245 million in cash deal to buy natural gas interests in east Texas.
The dividend, for the three months ended 31 December 2025, is due to be paid on 30 June 2026 to shareholders on the register at 29 May 2026. The company will pay in US dollars by default but is offering a sterling election, with currency elections due by 5 June 2026.