We should get a royalty payment announcement this week. We already passed the 'Ex-Dividend" date of May 25, so this would project where we are for next quarter.
Aussie dollar to CAD has fallen a bit lately to .93.
It costs a little over $2.1 million CAD to pay out a 2 cent dividend to shareholders, for that to be maintained we wanna see $2.271 million AUD or more in the announcement.
That number needed is NET income, they announce both Gross and Net in past announcements. It has only cleared that number twice in the past 5 announcements (2 for 7 that I can find easily). If the Net number is not achieved, to maintain the dividend they will need to draw down on the around $5.8 million treasury we apparently have.
The downgrade on the asset should not affect us for the short term, but we shall see what happens. If the number falls below the needed number, hopefully they tell us why, be it maintainance or a drop in wells production/drilled or some sort of color.
Just for other projections that may happen:
.01/qtr = 1.056 CAD = 1.135 AUD (has cleared the last 7 announcements)
.03/qtr = 3.168 CAD = 3.406 AUD (has never come close to clearing)
.04/qtr = 4.224 CAD = 4.542 AUD
I bought in expecting about 6 cents per year in dividends, not the current 8 cents projected, so if it holds I'm majorly pleased.