June 3 (Reuters) - Diamondback Energy Inc ( FANG ):

* VIPER ENERGY, INC. ( VNOM ), A SUBSIDIARY OF DIAMONDBACK ENERGY,

INC., TO

ACQUIRE SITIO ROYALTIES CORP. IN ALL-EQUITY TRANSACTION;

INCREASES BASE DIVIDEND

* VIPER TO BUY SITIO IN $4.1 BILLION ALL-EQUITY DEAL

* EXPECTED ANNUAL SYNERGIES OF OVER $50 MILLION

* BOARD OF DIRECTORS OF VIPER APPROVED 10% INCREASE TO ITS

BASE

DIVIDEND TO $1.32 PER SHARE ANNUALLY

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