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Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s):  TRMLF

Tourmaline Oil Corp. is a natural gas producer, which is focused on producing natural gas in North America. 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. It has ownership interests in 22 natural gas plants in the Alberta Deep Basin. It owns and operates seven natural gas processing facilities with an aggregate capacity of approximately 1.0 Bcf/d with related gas gathering systems and NGL handling infrastructure in the NEBC complex. The Company owns and operates two oil batteries in the Peace River Triassic Oil basin. The Company’s operations are focused on northeast British Columbia and include a large contiguous land base with a Montney resource. Its Montney area assets include Septimus / West Septimus, Groundbirch, Monias and Tower.


TSX:TOU - Post by User

Post by bagcheeseon Sep 22, 2021 9:57pm
289 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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