33% INCREASE IN QUARTERLY DIVIDEND TO US$0.08 PER SHARE CALGARY, AB, March 17, 2022 /CNW/ - Alvopetro Energy Ltd. (TSXV:ALV) (OTCQX: ALVOF) announces a US$0.08 per common share dividend, our year-end 2021 financial results, filing of our annual information form and an operational update.
All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
President and CEO, Corey Ruttan commented:
"With ongoing strong performance from our Cabur project, along with the recent increase in our realized natural gas pricing to US$11.28/Mcf, we are pleased to announce a 33% increase in our quarterly dividend. We continue to target a balanced and disciplined stakeholder return and organic growth model and on March 2, 2022, we commenced our 2022 drilling campaign targeting the first of two, high-impact, conventional natural gas exploration prospects."