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Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s):  TRMLF

Tourmaline Oil Corp. is a Canada-based crude oil and natural gas exploration and production company. The Company is focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. It operates in three basins, which include the Alberta Deep Basin, NEBC Montney Gas/Condensate and Peace River Triassic Oil. The Company has ownership interests in 16 natural gas plants in the Alberta Deep Basin. It owns and operates five natural gas processing facilities with an aggregate capacity of approximately 325 million cubic feet per day (MMcf/d) with related gas gathering systems and NGL handling infrastructure at NEBC Montney Gas basin. The Company owns and operates two oil batteries at the Peace River Triassic Oil basin, which handles approximately 48,000 barrels per day of fluids and the associated natural gas is delivered to a third party for processing.


TSX:TOU - Post by User

Post by bagcheeseon Sep 22, 2021 9:57pm
271 Views
Post# 33903319

Tourmaline, the gift that keeps on giving $$$$$$$

Tourmaline, the gift that keeps on giving $$$$$$$Given stronger than anticipated 2021 commodity prices and production volumes, and early achievement of the long-term net debt target, Tourmaline is in a position to increase its base quarterly dividend by $0.01/share to $0.18/share payable on December 31, 2021, which represents an annualized payout of $0.72/share as well as declare a special cash dividend of $0.75/share, payable on October 7, 2021, to shareholders of record on October 1, 2021 with an ex-dividend date of September 29, 2021. Given the observance of Canada's new statutory holiday on September 30th, this day will be considered a non-settlement day and as such the TSX requires the ex-dividend date on dividends with an October 1, 2021 record date to be September 29, 2021. This special cash dividend is designated as an "eligible dividend" for Canadian income tax purposes
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