.png)
Birchcliff Energy via YouTube. Birchcliff Energy ( BIR.TO )( BIREF ) on Thursday announced a 900 per cent hike to its quarterly dividend, a payout that will rank among the highest on the Toronto Stock Exchange. The Calgary-based oil and gas firm known for rewarding shareholders says its quarterly dividend will jump from $0.02 per share to $0.20 per share, payable on March 31 to shareholders of record at the close of business on March 15. Thursday’s announcement confirms the company’s plans from October, as it worked towards zero debt. Birchcliff now expects to end 2023 with between $50 million and $70 million of debt. The company also announced a five-year plan, budget, and 2023 guidance on Thursday. Birchcliff upped its capital spending plans from $255 million to $270 million while leaving its production estimate unchanged at roughly 82 million barrels of oil equivalent per day, rising to average production of 90 million (boe/d) in 2027. Toronto-listed shares climbed modestly in early trading on Thursday, rising 3.45 per cent to $8.99 as at 12:50 p.m. ET. The stock has gained about 24 per cent over the past 12 months amid significant volatility for natural gas prices. "We believe the […]
CamTrader offers a preview only. View original article. sports.yahoo.com
