Initiates a dividend
https://www.hemisphereenergy.ca/sites/d ... 20JUNE.pdf
hemisphere new update
Re: hemisphere new update
Good news! About 5% dividend. I own a bunch!
Re: hemisphere new update
Hemisphere Energy Corp. (HMENF) on Tuesday rose nearly 4% on last look after reporting an updated outlook for 2022 and other updates.
The company said it now expects adjusted funds flow for 2022 of $52 million, or $0.53 per basic share, instead of the previously expected adjusted funds flow of $37 million, or $0.39 per basic share.
Hemisphere Energy (HMENF) is now planning to drill up to eight wells in 2022, including three that will be re-drilled from current wellbores in order to use existing equipment, minimize costs, and lower abandonment liabilities.
The company has completed the renewal of its extendible two-year committed term facility with ATB Financial, providing for borrowings of up to $35 million.
The board has approved a variable dividend policy targeting about 30% of Hemisphere's annual free funds flow to be paid quarterly. The quarterly cash dividend paid to Hemisphere shareholders will be $0.025 per share on June 30 to shareholders of record as of the close of business on June 15.
The company said it now expects adjusted funds flow for 2022 of $52 million, or $0.53 per basic share, instead of the previously expected adjusted funds flow of $37 million, or $0.39 per basic share.
Hemisphere Energy (HMENF) is now planning to drill up to eight wells in 2022, including three that will be re-drilled from current wellbores in order to use existing equipment, minimize costs, and lower abandonment liabilities.
The company has completed the renewal of its extendible two-year committed term facility with ATB Financial, providing for borrowings of up to $35 million.
The board has approved a variable dividend policy targeting about 30% of Hemisphere's annual free funds flow to be paid quarterly. The quarterly cash dividend paid to Hemisphere shareholders will be $0.025 per share on June 30 to shareholders of record as of the close of business on June 15.
Re: hemisphere new update
And the remainder of the $12,000,000 in debt will be extinguished with the remaining FCF, which means that can be recycled next year into more goodies for the shareholders, or another $.10 per share
Re: hemisphere new update
I believe higher dividends in 2023 is Don Simmon's goal. He owns a lot of stock.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group