RE:So......."...BIR has announced they are instituting a quarterly dividend of 0.20 per share (a 10-fold increase from 0.02 per share) starting with the March 31, 2023 payout while not hedging any production going foward in a volatile natural gas pricing environment and warmer than average tempuratures forecast for many parts of Canada, the USA, and Europe this winter....?
Wow. Good luck with that."
it looks to me that they left themselves some wiggle room with these .20 quarterly dividends, this is part of the news release.
"As part of its commitment to increasing shareholder returns, Birchcliff’s board of directors (the “ Board ”) has approved the previously announced increase to the Corporation’s annual base dividend to $0.80 per common share for 2023. This annual base dividend will be declared and paid quarterly at the rate of $0.20 per common share, at the discretion of the Board."
the last bit makes it sound like it is defintitely not set in stone so to me it'll be dependent on ng prices each q, and they don't look good for the foreseeable future, but that can change overnight these days, lol.
regardless lots of uncertainty here imho and I exited my position today at just over $9 and will stick with arx in the sector for now. made some money on bir so I'm happy, I just don't think that divy is anywhere guaranteed.
cheers and gl ferret