I'm surprised...
...PEY never officially announced that Darren Gee would be moving out of the role as President. Maybe it was buried in the Sedar filed Financials? This was a Stockwatch report I just read on PEY's latest results: "A different gas producer over in Alberta, Darren Gee's Peyto Exploration & Development Corp. (PEY), edged up five cents to $10.69 on 3.74 million shares, after releasing mixed financials for the third quarter. Cash flow of 63 cents matched analysts' predictions to a tee. Production of 90,000 barrels of oil equivalent a day, however, came in slightly below 90,400 barrels a day, and Peyto backed slightly away from its target of hitting 100,000 by year-end (claiming that the exact rate will "depend on timing of year-end activity"). "Investors had more than the financials to digest. The above-noted Mr. Gee, who has been Peyto's president and CEO for about 15 years, announced today that he will turn over the president's role to Jean-Paul Lachance, chief operating officer. The move is naturally stoking succession rumours. Mr. Lachance has been with Peyto since 2011 and was promoted to COO in 2018. Before Peyto, he worked for ProspEx Resources (acquired by Paramount Resources Ltd. (POU: $23.99) in mid-2011), as well as Chevron and Marathon. "Perhaps to welcome the new president (or offset the middling financials), Peyto proudly proclaimed, "Monthly Dividend Reinstated." Long-time investors may remember that Peyto used to pay a monthly dividend that was as high as 11 cents. It dropped to six cents in 2018, dropped again to two cents in 2019 and then morphed into a one-cent quarterly dividend in 2020. The yield as of yesterday was a nominal 0.4 per cent. Now Peyto is shifting back to a monthly dividend and boosting it all the way to five cents, for a new yield of 5.6 per cent". Anyone else see this in a disclosure from the Company?