Surge has chosen to cut its monthly dividend by 50%, from $0.0125 per share to $0.00625 per share ($0.075 per share annualized). Implied yield (based on the most recent closing price) is 3.5%. Revised 2016e guidance now portrays a $55 mm capital budget (previously $55 mm) that will target exit 2016e volumes in excess of 13,000 boe/d (76% liquids).Updated FirstEnergy forecast continues to frame challenging sustainability metrics with a 2016 cash use to cash flow of ratio of 213% (267% - forward ....
08 Apr 2016
Cuts Dividend, Increases Capital Spending in 2016
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Cuts Dividend, Increases Capital Spending in 2016
Surge Energy Inc. (SGY:TSE) | 0 0 -0.5% | Mkt Cap: 433.4m
- Published:
08 Apr 2016 -
Author:
Cody R. Kwong -
Pages:
6
Surge has chosen to cut its monthly dividend by 50%, from $0.0125 per share to $0.00625 per share ($0.075 per share annualized). Implied yield (based on the most recent closing price) is 3.5%. Revised 2016e guidance now portrays a $55 mm capital budget (previously $55 mm) that will target exit 2016e volumes in excess of 13,000 boe/d (76% liquids).Updated FirstEnergy forecast continues to frame challenging sustainability metrics with a 2016 cash use to cash flow of ratio of 213% (267% - forward ....