Smart Sand Declares $0.05 Special Dividend, Second Payout in Six Months
Smart Sand, Inc. (NASDAQ: SND) declared a special dividend of $0.05 per share on November 18, 2025, payable December 16 to shareholders of record December 2. The frac sand producer returned $2.1 million to shareholders through the payout.
Smart Sand, Inc. (NASDAQ: SND), a fully integrated frac sand and industrial sand supply company, declared a special dividend of $0.05 per share on November 18, 2025. The payment, made December 16, returned approximately $2.1 million to shareholders. Read more dividend announcements.
The Pennsylvania-based company operates as a low-cost producer of Northern White sand and provides proppant logistics solutions through in-basin transloading terminals. The dividend went to shareholders of record at the close of business on December 2, 2025.
| Dividend Details | Date |
|---|---|
| Amount per Share | $0.05 |
| Record Date | December 2, 2025 |
| Payment Date | December 16, 2025 |
| Type | Special (One-Time) |
The December payment marked Smart Sand's second special dividend in 2025. The company previously declared a $0.10 per share special dividend on July 23, 2025, paid August 14 to shareholders of record August 4. That earlier payout returned approximately $4.4 million to shareholders.
Combined, the two special dividends returned roughly $6.5 million to shareholders during 2025. Chief Executive Officer Charles Young said the company returned approximately $8 million total to shareholders during the year through dividends and stock buybacks.
Fourth Quarter and Full Year Performance
Smart Sand reported fourth quarter 2025 revenue of $86.0 million on sales of approximately 1,478,000 tons. The quarter marked the company's third consecutive period with sales volumes exceeding 1.4 million tons.
Fourth quarter net cash provided by operating activities reached $22.4 million, generating free cash flow of $20.4 million. The company experienced strong sales activity across key shale markets, including the Appalachian Basin, the Bakken, and the Montney and Duvernay shales in Canada.
For full year 2025, Smart Sand achieved record sales volumes of 5.4 million tons on revenue of $330.2 million. Full year net cash provided by operating activities totaled $44.1 million, up from $17.9 million in 2024. The increase stemmed primarily from stronger collections on accounts receivable following consecutive quarters of higher sales and a customer prepayment for 2026 sand sales.
Free cash flow for 2025 reached a record $32.5 million. Contribution margin for the year totaled $65.1 million, or $11.96 per ton sold, compared to $71.7 million, or $13.62 per ton, in 2024. Adjusted EBITDA declined to $29.9 million from $38.8 million in the prior year, primarily due to higher logistics costs and increased mining expenses.
Capital Allocation Program
Smart Sand's board of directors approved a new two-year share repurchase program on February 26, 2026, authorizing up to $20.0 million in buybacks. The program replaces an earlier eighteen-month authorization approved in October 2024 that allowed up to $10.0 million in repurchases. During 2025, the company repurchased $2.1 million in shares under the prior program.
The company may repurchase shares from time to time at management's discretion, subject to market conditions. The program does not obligate Smart Sand to acquire any particular amount of shares and may be modified or suspended at any time.