GREY:AVNDF - Post by User
Comment by
fwiw88on Mar 26, 2013 4:26pm
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Post# 21170769
RE: RE: RE: RE: Dividend .03 or .035 going forward
RE: RE: RE: RE: Dividend .03 or .035 going forwardFrom Dec 2012 arcticleDividend Policy Upon closing, Spyglass will implement a monthly dividend of $0.03 per share with a dividend payout of 35% to 40% of cash flow (approximately $46 million annual dividend) and a target all-in payout ratio (including $80 to $90 million of sustaining capital expenditures) of approximately 100% of cash flow. The dividend policy will be reviewed monthly and is based on a number of factors including current and future commodity prices, foreign exchange rates, an active commodity price hedging program, status of current operations and future investment opportunities. Each dividend declaration will be confirmed by Spyglass in a monthly news release. Spyglass will consider implementing a dividend reinvestment plan (DRIP) following completion of the Merger. >