EOG Resources
Q1 2022 Earnings Call
May 06, 2022, 10:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, everyone, and welcome to the EOG Resources first quarter 2022 earnings results conference call. As a reminder, this call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to the chief financial officer of EOG Resources, Mr. Tim Driggers.
Please go ahead, sir.
Tim Driggers -- Chief Financial Officer
Good morning, and thanks for joining us. This conference call includes forward-looking statements. Factors that could cause our actual results to differ materially from those in our forward-looking statements have been outlined in the earnings release and EOG's SEC filings. This conference call also contains certain non-GAAP financial measures.
Definitions and reconciliation schedules for these non-GAAP measures can be found on EOG's website. This conference call also include estimated resource potential, not necessarily calculated in accordance with the SEC's reserve reporting guidelines. Participating on the call this morning are Ezra Yacob, chief executive officer; Billy Helms, president and chief operating officer; Ken Boedeker, EVP, exploration and production; Jeff Leitzell, EVP, exploration and production; Lance Terveen, senior VP, marketing; and David Streit, VP, investor and public relations. Here is Ezra.
Ezra Yacob -- President
Thanks, Tim. Good morning, everyone. EOG's cash return strategy demonstrates our commitment to deliver long-term shareholder value. Yesterday, we declared a second special dividend for the year of $1.80 per share following last quarter's $1 per share.
Combined with our peer-leading annualized regular dividend of $3 per share year-to-date, we have announced $3.4 billion in cash returned to shareholders in 2022. EOG has a strong history of cash return. Since we began trading as an independent company in 1999, we have delivered a sustainable growing regular dividend. It has never been cut or suspended, and its 23-year compound annual growth rate is 22%.
Since the transition of premium drilling in 2016, our dividend compound annual growth rate has been even higher at 28%, including doubling our dividend last year. Today, our regular dividend not only leads our E&P peer group, it is more than competitive across all sectors of the market. More recently, we have supplemented our regular dividend with significant special dividends, reflecting our commitment to both capital discipline and returning cash to shareholders. While we are proud of our cash return track record, we acknowledge shareholders' desire for more transparency and predictability.