Keyera Corp T.KEY

New Press Release - Keyera Increases Quarterly Dividend By 4.2% And Announces Third Quarter Distribution

CALGARY, AB, Aug. 9, 2023 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera") announced today it is increasing its quarterly cash dividend per common share by 4.2% from $0.48 to $0.50, or $2.00 annually. The dividend payment for the third quarter of 2023 will be $0.50 per common share and will be payable...read article.

[JohnSP]

Well that was a surprise, 1) as ahead of tomorrow morning's before the bell Q2 Results PR, and 2) as in Q1 Rsults Conf Call Q&A, KEY said "Our immediate focus has certainly been to bring KAPS online and given the sheer size of the investment, we want to ensure that the pipeline operates and cash flows ramp according to plan. The next focus is to return to our long history of dividend

[hawk35]

Hi JohnSP.  Looks like quite a few people agree with you and were buying the last hour and a half.  Volume was significantly under the average until the announcement came out.  Volume quickly picked up and it closed above average.  Will be interesting to get an update on KAPS tomorrow.  Management  must be pretty confident by announcing not just one divi increase but

[JohnSP]

Hi hawk, alternately, while volume ramped up into the close, share price was dropping, so maybe I'm wrong. Good catch on "return to div increases", missed that, bonus, tomorrow morning will be interesting.

[SargeX]

Totally agree on the "management showing themselves ot be conservative" and even more importantly, that they are top-notch, It's really refreshing to see a CEO like Setoguchi with so many total twits (like Banskota at AQN (adious!!), Harris with ALA, Baile at IPL, Marino at BTE & VET, etc, etc). I wondered how Setoguchi would do after replacing another top-notch guy like Smith