Calima has confirmed that it will pay a dividend in H2’22 and has also announced its intention to commence a share buyback. Calima intends to pay a dividend of A$2.5mm in H2’22, which equates to an annualised yield of close to 5%. We see upside to this dividend in 2023 if oil prices remain at elevated levels as Calima’s hedges roll-off and there is the potential to grow production in 2023. The share buyback is planned to start in June, with authorisation to buy back up to 10% of shares outstandi ....
24 May 2022
Calima Energy: Initiating both dividend and buybacks
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Calima Energy: Initiating both dividend and buybacks
Calima has confirmed that it will pay a dividend in H2’22 and has also announced its intention to commence a share buyback. Calima intends to pay a dividend of A$2.5mm in H2’22, which equates to an annualised yield of close to 5%. We see upside to this dividend in 2023 if oil prices remain at elevated levels as Calima’s hedges roll-off and there is the potential to grow production in 2023. The share buyback is planned to start in June, with authorisation to buy back up to 10% of shares outstandi ....