Evolution Q4 net income $2.2M, production +156% QoQ; raises dividend 50%

EVOLUTION PETROLEUM CORP

Q4 net income $2.2M ($0.07 diluted EPS) vs $1.2M prior quarter; revenue $13.7M.
Production 4,378 BOEPD, up 156% QoQ, driven by Barnett Shale acquisition closed May 7 for $18.3M.
Full year net loss $16.4M ($0.49 loss per share) on $24.8M impairment; revenue $32.7M up 11%.
Proved reserves 23.4 MMBOE, up 129% from 10.2 MMBOE at FY2020 year-end.
Declared $0.075 quarterly dividend (50% increase), payable Sept 30, 2021 to holders of record Sept 20.

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