Viper Energy Declares $0.52 Quarterly Dividend, Raises 2026 Base Rate 15%
Viper Energy, Inc. (NASDAQ: VPER), a Permian Basin mineral and royalty owner, declared a Q4 2025 dividend of $0.52 per Class A share. The company also announced a 15% increase to its annual base dividend.
Viper Energy, Inc. (NASDAQ: VPER), a Permian Basin mineral and royalty owner, declared a fourth quarter 2025 cash dividend of $0.52 per Class A common share, comprising a $0.38 base dividend and a $0.14 variable dividend. The combined dividend implies a 4.6% annualized yield based on the company's February 20, 2026 closing price of $45.64. Read more dividend announcements.
The company's board also approved a 15% increase to the annual base dividend for 2026, raising it to $1.52 per share from the prior rate. Management stated the new base dividend represents approximately 50% of cash available for distribution at $50 West Texas Intermediate crude oil.
| Dividend Component | Amount per Share | Record Date | Payment Date |
|---|---|---|---|
| Base Cash Dividend | $0.38 | March 5, 2026 | March 12, 2026 |
| Variable Cash Dividend | $0.14 | March 5, 2026 | March 12, 2026 |
| Total Q4 2025 Dividend | $0.52 | March 5, 2026 | March 12, 2026 |
Fourth Quarter and Full Year Production
Viper reported fourth quarter 2025 production of 51,619 barrels of oil per day and 102,697 barrels of oil equivalent per day. Full year 2025 average production reached 48,973 barrels of oil per day, or 95,126 barrels of oil equivalent per day.
The company recorded fourth quarter 2025 operating income of $435 million and a consolidated net loss of $246 million, driven primarily by a $408 million non-cash impairment related to properties acquired in a May 2025 drop-down transaction with Diamondback Energy. Full year 2025 consolidated adjusted EBITDA totaled $1.3 billion.
Share Repurchases and Capital Return
During the fourth quarter, Viper repurchased 2.4 million shares of common stock for approximately $94 million, excluding excise tax, at an average price of $38.69 per share. Total capital returned to Class A stockholders in the quarter reached $131 million, or $0.77 per share, representing 90% of cash available for distribution.
For full year 2025, the company repurchased approximately 5.0 million shares for $194 million at an average price of $38.53 per share. The board increased the share repurchase authorization by $1.0 billion, leaving approximately $1.2 billion remaining under the program.
Balance Sheet and Non-Permian Divestiture
As of December 31, 2025, Viper held a cash balance of $13 million and total debt of $2.2 billion, consisting of $500 million in 4.900% Senior Notes due 2030, $1.1 billion in 5.700% Senior Notes due 2035, $500 million in term loan borrowings, and $105 million drawn on its revolving credit facility.
On February 9, 2026, the company completed the sale of its non-Permian assets to affiliates of GRP Energy Capital and Warwick Capital Partners for net proceeds of approximately $617 million. The proceeds were used to fully repay the $500 million term loan and eliminate the revolving credit facility balance, leaving approximately $1.4 billion in total liquidity.
Reserves and Development Activity
Proved reserves as of December 31, 2025 totaled 406,035 thousand barrels of oil equivalent, up 107% year over year, with 78% classified as proved developed producing and 48% as oil. During the fourth quarter, 739 gross horizontal wells with 13.0 net 100% royalty interest were turned to production on Viper's acreage with an average lateral length of 11,283 feet.
For 2026, the company initiated first quarter production guidance of 62,500 to 64,500 barrels of oil per day, or 124,000 to 128,000 barrels of oil equivalent per day. Full year 2026 production is forecast at 61,000 to 67,000 barrels of oil per day, or 120,000 to 132,000 barrels of oil equivalent per day.