Bullboard - Stock Discussion Forum Topaz Energy Corp TPZEF

Primary Symbol: T.TPZ

Energy Oil & Gas E&P

Topaz Energy Corp. is a Canada-based royalty and infrastructure energy company. The Company is primarily focused on developing its business by acquiring and developing relationship with natural gas producers, such as Tourmaline Oil Corp. It owns gross overriding royalty (GORR) interests on approximately 5.3 million acres of land located throughout the prolific natural gas plays in the Western... see more

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TSX:TPZ - Post Discussion

Topaz Energy Corp > Dividend

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Post by Betteryear2 on Nov 04, 2021 4:51pm

Dividend

The Company paid dividends of $27.0 million ($0.21 per share) in the third quarter of 2021 representing a payout ratio(2) of 53%. Topaz's Board has approved a 14% increase to its quarterly dividend and declared its 2021 fourth quarter dividend of $0.24 per share which is expected to be paid on December 31, 2021 to shareholders of record on December 15, 2021. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes.
Topaz's 2022 dividend of $133.6 million is well supported by its estimated 2022 infrastructure FCF(2) of $56.0 million as 78% of Topaz's natural gas processing capacity is fixed under long term contract and its variable processing capacity continues to realize over 95% utilization. Combined with the stable infrastructure revenue, Topaz's dividend is covered at very low commodity prices of C$1.50/mcf AECO and US$45 WTI.