New Zealand Oil and Gas is still considering whether it will split its dividend to investors into two payments during the year.
At present the energy explorer pays a 6 cent a share full year dividend.
Chief executive Andrew Knight says no decision has been made but an interim dividend is likely to be announced at the same time as the company's half year results next month.
He said the level of dividend is enough to justify splitting the dividend and the board is signalling an intention to have an interim dividend.
The company made $18.3 million in the three months to December, a decrease of 27% compared with the same period a year ago.
New Zealand Oil and Gas has cash reserves of $209 million. It has reduced debt to $38 million and has said this would be fully repaid by March 2015.
The company is not proposing to buy back shares in the near future while in invests more in exploration activity.
