Cardinal Energy Ltd (Alberta) T.CJ

Cardinal could increase the dividend yet again!

[Quintessential1]

From Stockwatch Energy courtesy of loonietunes. 


"Within the oil patch, stocks fell with commodity prices, even as some companies made a determined effort to lift the gloom. Scott Ratushny's Alberta oil producer, Cardinal Energy Ltd. (CJ), lost 20 cents to $8.20 on 2.19 million shares, despite confirming a dividend hike. It has declared a six-cent dividend for October. This is up from the old monthly dividend of five cents, for a new yield of 8.8 per cent.

Investors shrugged off the increase (or raised eyebrows at the lofty yield), perhaps because Cardinal started predicting a dividend hike in July and settled on a figure of six cents in September. It used both of those announcements in part to pat itself on the back for its rapid debt reduction. Net debt came to $62-million as of June 30, down from $178-million at the start of the year (and from $246-million at the start of last year). As this number approaches $50-million, Cardinal hinted today that it could increase the dividend yet again. Investors should find out more when the company releases its 2023 guidance later this year."

One dividend paid, An increased dividend announced and a future increase hinted at.  Who could ask for more?

Not me!

GLTA Longs 

[Moremoney4u]

YES INDEED, divy going to 7.5 cents in new year , stock will trade in 12.00 $$$ range,  DEBT, PAID OFF, they will buy  back shares,  Great dividend now,  Quick paybacks on wells drilled, AMAZING.  OIL price will move up in new year, according to LARGE fund MGRS. IT all is good for CJ, I  would not be surprised if they announce another takeover, they would have the

[JohnnyDoe]

where did you get that the divvy is sustainable down to 45 wti?

[navajojoe]

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[Quintessential1]

Lying is a little harsh.  Maybe guilding the lilly a bit. Does anyine know if the div has been stress tested at all? AS debt is reduced surely the div is easier to maintain. GLTA Longs

[MohelJFox]

"As this number approaches $50-million, Cardinal hinted today that it could increase the dividend yet again". Where did this information come from ? I am usually the first Hebe Scotty phones before he sends out a News Release !

[Quintessential1]

"Cardinal expects to reach the final milestone of its Three Phase 2022 Debt Repayment / Shareholder Return Plan in the fourth quarter. We look forward to releasing our 2023 Budget and Plan in late 2022 which will outline our future plan for shareholder returns." The "hint" is in their own news release as the reaching of the targeted debt level triggers increased shareholder