Coterra Energy Q3 net income $62.7M; lifts base dividend 14%, initiates variable dividend

Coterra Energy Inc.

2021-Q3 EPS reported $0.55 revenue$1,224,743,000

Net income $62.7M ($0.16/share); adjusted net income $207.0M ($0.52/share) for legacy Cabot.
Board approved 14% base dividend increase to $0.50 annual; Q4 base+variable dividend $0.30/share payable Nov 24.
Combined Cabot & Cimarex free cash flow of $387.3M in Q3, includes $100.1M merger costs.
Legacy Cabot discretionary cash flow $308.8M; operating cash flow $245.2M.
Special $0.50/share dividend declared Oct 4, paid Oct 22.

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