Pharos Energy plc (LON:PHAR) Plans Dividend of GBX 0.85

Pharos Energy plc (LON:PHAR) announced a dividend of GBX 0.85 ($0.01) per share, payable on July 18th to stockholders of record on June 12th, representing a 3.67% yield and a 133.3% increase from the previous dividend of $0.36. The ex-dividend date is also June 12th. Despite this announcement, shares of PHAR fell by 4.8% during midday trading, reaching GBX 22 ($0.28).