Key Highlights

  • EOG declared a regular quarterly dividend of $1.02 per share, payable October 30, 2026, to holders of record October 16.
  • Second-quarter net income was $2.72 billion, or $5.15 per share, on revenues of $8.62 billion.
  • Free cash flow, a non-GAAP measure, was $2.8 billion, and net cash from operating activities was $4.7 billion.
  • On October 8, EOG raised its third-quarter current tax expense guidance to $835 million to $935 million.

EOG Resources, Inc. (NYSE:EOG) declared a regular quarterly dividend of $1.02 per share on August 4, 2026, payable on October 30 to shareholders of record on October 16. In the second quarter the company paid $540 million in regular dividends, repurchased $1,294 million of its shares and generated $4.7 billion of net cash from operating activities.

Dividend Program and Shareholder Returns

The $1.02 regular dividend is payable on October 30, 2026, to stockholders of record as of October 16, 2026, which is also the ex-dividend date. The company’s second-quarter 10-Q records earlier quarterly dividends of $1.02 per share paid on April 30 and scheduled for July 31, 2026.

In the second quarter EOG paid $540 million in regular dividends and repurchased 9.6 million shares for $1,294 million. Dividends paid in the six months ended June 30, 2026, were $1,084 million.

Effective May 20, 2026, the board increased the share repurchase authorization from $10 billion to $20 billion. About $11.7 billion remained available at June 30, 2026.

About the Company

EOG Resources, Inc. is an oil and natural gas exploration and production company whose shares trade on the New York Stock Exchange. Second-quarter 2026 oil volumes averaged 548.8 thousand barrels per day, and total volumes averaged 1,410.4 thousand barrels of oil equivalent per day. In the quarter, two one-mile lateral test wells in the United Arab Emirates averaged over 25,000 barrels of cumulative oil production per well in their first 30 days.

Financial Performance Behind the Payout

Second-quarter net income was $2.72 billion, or $5.15 per share. Adjusted net income, a non-GAAP measure, was $2.68 billion, or $5.07 per share. Revenues were $8.620 billion.

Net cash provided by operating activities was $4.7 billion, and free cash flow, a non-GAAP measure, was $2.8 billion.

At June 30, 2026, cash and cash equivalents were $4.907 billion. Long-term debt was $7.899 billion, with a further $27 million in current maturities. The company’s $3.0 billion revolving credit agreement had no borrowings or letters of credit outstanding.

Higher Crude Prices and a Larger Tax Bill

In a Form 8-K filed on October 8, 2026, EOG raised its guidance for third-quarter current tax expense to $835 million to $935 million, from $545 million to $645 million. The company attributed the change to higher crude oil prices realized in the third quarter and anticipated for the full year, citing the ongoing conflict in the Middle East.

The update changes guidance for current tax expense. It does not change the declared dividend.

Outlook

EOG’s guidance, set out on August 4, 2026, is 5% oil production growth and 14% total production growth for 2026. Its guidance for third-quarter current tax expense, updated on October 8, is $835 million to $935 million.

Realized crude oil prices, production volumes, free cash flow, current tax expense and the board’s quarterly declarations are the relevant factors for the dividend.