Bullboard - Stock Discussion Forum Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil... see more

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Gear Energy Ltd > DIV

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Post by tho411 on Aug 03, 2022 9:13am

DIV

When's the next dividend being paid? Thanks

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Comment by pierrelebel on Aug 03, 2022 9:38am

With the generation of $24.6 million in free funds from operations during the second quarter and a continued strong outlook, Gear's Board of Directors has approved the implementation of a new monthly dividend of $0.01 per common share. To account for no dividend being distributed in July, the initial dividend for the month of August will be $0.02 per common share and thereafter will revert to ...more

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Comment by Gord_Alberta on Aug 04, 2022 2:55am

The dividend works out to $10 million every quarter. Leaving more than $10 million for share buybacks, etc... Am I correct?

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Comment by pierrelebel on Aug 04, 2022 10:18am

"Leaving more than $10 million for share buybacks, etc.." Maybe, maybe not. It depends on the assumption you make for WTI going forward. This morning WTI trades below US$90 - the lowest since Russia invaded Ukraine six months ago. The trend is clearly down. Should WTI rebound to US$100+ all is well. If it keeps dropping and reaches US$80 next year as indicated by ...more

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Gear Energy Ltd