let me defend managmentThere is some obvious dissatisfaction with no dividend increase in this last statement...and i notice a lot of new posters showing their disappointment.
I think Whitecap made the pending dividend increase quite clear in september when they outlined increases both special and monthly. They clearly said that once debt was below their target EARLY in 2023. Also they are keen to buy back as much shares as possible ( soft price helps that).
If you are a long term holder....you will get roughly 7+% monthly distribution from todays price.
this is from the sept release.
- Elevated Shareholder Returns. We are committed to our return of capital framework and upon achieving our net debt milestone of $1.3 billion in mid-2023, we expect that our base dividend will be increased to $0.73 per share which represents a yield of approximately 9% based on our current share price. With 75% of free funds flow being returned to shareholders, we have the flexibility to further supplement the targeted $0.73 per share dividend with share repurchases and/or special dividends.
biker