As Always Tourmaline Oil Corp.
Between Aug. 13-30, founder, chairman, president and chief executive officer Mike Rose invested over $1.2-million in shares of Tourmaline. He acquired a total of 20,000 shares at an average price per share of approximately $61.55 for two accounts, lifting the holdings to 8,272,699 shares in one account and to 1,142,500 shares in a different account.
On July 31, the company announced a 3-per-cent dividend hike, raising its quarterly dividend to 33 cents per share from 32 cents per share. In addition, given the company’s strong free cash flow generation, management announced a special dividend of 50 cents per share that was paid on Aug. 21 to shareholders of record on Aug. 9.