Surge Energy Inc. confirmed that a cash dividend to be paid on August 15, 2024, in respect of July 2024 production, for the shareholders of record on July 31, 2024 will be $0.043 per share. The $0.52 per share dividend represents an 8% increase in the Company's dividend, from $0.48 per share per year ($0.040 per share per month) to $0.52 per share per year ($0.043 per share per month). On an annualized basis, the increased dividend of $52 million represents less than 18% of the Company's 2024 cash flow from operating activities guidance of $290 million at US$75 WTI per barrel.