Tourmaline, Canada’s largest gas producer, says it will pay a special dividend of $2 per share on Feb. 1. (GETTY) Tourmaline Oil ( TOU.TO ) is spreading the wealth to its shareholders again as cold weather in November and December implies "significantly higher" cash flows in the final quarter of 2022 than previously forecast. But shares dipped on Friday, as investors focused on weaker guidance for 2023. Canada’s largest gas producer says it will pay a special dividend of $2 per share on Feb. 1 to shareholders of record as of Jan. 24. The company also confirmed plans for special payments in each of the next three quarters. "Tourmaline has become the go-to name for natural gas exposure," Calgary-based Raymond James analyst Jeremy McCrea wrote in a note to clients on Friday. "That said, the recent weakness in natural gas prices has caused some concern with institutional investors." Tourmaline boosted its quarterly dividend to $0.25 from $0.225 per share in the final quarter of last year, adding to a steady string of increases and special payments. Toronto-listed Tourmaline shares fell 2.3 per cent to $65.59 as at 11:28 a.m. ET on Friday. The stock has climbed nearly 50 per […]
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