Post by
TonyDj on Jul 27, 2016 1:33pm
Numbers don't Lie.They can afford the Dividend. Thank me.
Northern Blizzard realized gains on physical delivery and financial derivative contracts of $35.4 million during the first quarter of 2016. Capital expenditures for the first quarter of 2016 totalled $6.9 million Northern Blizzard's total payout ratio was 39% for the first quarter of 2016. Total payout ratio is calculated as cash dividends paid plus capital expenditures divided by funds from operations. Assuming all of the dividends were paid in cash, the total payout ratio for Q1 2016 would have been 77%. Over 70% of production has a positive operating netback at a WTI price of US$30/bbl.