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Whitecap Resources Inc T.WCP

Alternate Symbol(s):  SPGYF

Whitecap Resources Inc. is an oil-weighted growth company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its core areas include the West Division and East Division. Its West Division is comprised of three regions: Smoky, Kaybob and Peace River Arch (PRA). The properties in its Smoky region include Kakwa and Resthaven, all located in Northwest Alberta. The primary reservoir being developed is the Montney resource play, mainly comprised of condensate-rich natural gas. Kaybob is located in the Fox Creek region of Northwest Alberta. The primary reservoir being developed is the Duvernay resource play, mainly comprised of condensate-rich natural gas. The PRA is its original asset area. Its East Division is comprised of four regions: Central AB, West Sask, East Sask and Weyburn. Its Central Alberta region represents the bulk of its Cardium and liquids-rich Mannville assets.


TSX:WCP - Post by User

Comment by pierrelebelon Jun 25, 2023 11:30am
235 Views
Post# 35513548

RE:$ 0.73/ share dividend ?

RE:$ 0.73/ share dividend ?
The June presentation states:

"Target dividend level of $0.73 per share on achieving debtmilestone"

At least twice in the presentation the word "target" is used when referring to the increased dividend.

"mid-2023" is an approximation, conditional to other targets being met, not a fixed date.  Unfortunately WTI at this time is lower than budgeted, so is the value of the US dollar.

It is quite possible that the dividend increase will be postponed until later this year while WCP uses free cash flow to buy back shares before the buyback tax takes effect January 1st, 2024. Such move would benefit common shareholders.

Patience folks, patience!

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