Gear Energy Ltd T.GXE

Dividend

[masfortuna]

• So the didvidend will amount to .07 cents this year Or 4.37 %. See below for the breakdown. The first payment is May 30th.
• Using forward market pricing as of May 3, 2022 (remaining 2022 WTI of US$98 per barrel, WCS differential of US$13 per barrel, MSW and LSB differentials of US$2.75 per barrel, FX of US$0.78 per C$, AECO of $6.75 per GJ, and current share count), Gear is forecasting the following:

($ millions except % and per share)	Q1 2022 Actual	Q2 2022	Q3 2022	Q4 2022
Forecasted FFO	18.8	33	31	31
Forecasted capital and abandonment expenditures	9.6	12	18	15
Forecasted free FFO	9.2	21	13	16
Forecasted dividend amounts	2.6	6	4	5
Committed % of free FFO paid out as a dividend (%)	28	30	30	30
Forecasted variable dividend ($/share)	0.01	0.026	0.015	0.019

 

NCIB

[CandyC]

with the dividend and special dividend I would suspect it can finally be added to Eric's income fund

[masfortuna]

Sorry Candy I don't see anything about a special dividend.  Enlighten me.

[Chefboy69]

The remaining approximately 70 per cent of free funds from operations for the previous quarter is expected to be dedicated to a combination of share buybacks, growth capital, cash funded acquisitions, and special dividends.

[CandyC]

mas you are now enlightened  lol The remaining approximately 70 per cent of free funds from operations for the previous quarter is expected to be dedicated to a combination of share buybacks, growth capital, cash funded acquisitions, and special dividends. Share buybacks will be subject to certain strategic net asset value and debt adjusted trading multiple thresholds and are expected to

[jleer42]

Yes, Eric has owned it in his regular (NNRG) fund - not sure if he still does - so I can see him adding it to his divy fund well.

[diceslinger]

Eric owns 9.9% of gear and has for a long time....it's sits in 11th or 12th in his holdings, thus you never see it in the top ten monthlies.

[CandyC]

And I would suspect that he'll own 9.9% in the income etf soon. I could be wrong though. Also with these dividends and special dividends and buybacks it will get the attention of more fund managers 

[Sugaree]

I doubt he would have this in his income fund. Too small a company, all the current ones are big. Second, he got his current large position from obscure method, don't fully recall but was not from buying and building from open market. Extremely difficult to acquire another large enough position for a second fund, as is cant even make the top ten in current fund.  

[CandyC]

I wouldn't be surprised if he adds it at a full 9.9%. It would be a very small holding in his income fund but it would be large for Gear. Potential adding 0.40 to the SP

[Roscoe747]

Nuttall is limited by fund covenants from owning more than 10%. Even if allowed, I doubt GXE can make the cut in an income fund with a discretionary dividend.

[Sugaree]

He won't chase the share price, and would drive down the yield, making it less attractive to new buyers in a hurry. but you never know.