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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (101458)	2/22/2021 3:45:22 PM
From: Goose94	Read Replies (1) \| Respond to of 202211

Vermilion Energy (VET-T) eight month high

To: Goose94 who wrote (101458)	9/15/2021 11:53:45 AM
From: Goose94	Read Replies (1) \| Respond to of 202211

Vermilion Energy (VET-T) two month high

To: Goose94 who wrote (101458)	11/30/2021 2:50:22 AM
From: Goose94	Read Replies (1) \| Respond to of 202211

Vermilion Energy (VET-T) is reviving its dividend -- just a fraction of its former self, but alive nonetheless. Vermilion has also announced a gassy acquisition in Europe. The dividend will return in the new year at a quarterly rate of six cents, for a yield of 1.9 per cent. The annualized rate of 24 cents is almost equal to the 23-cent dividend that Vermilion used to pay every month. It kept this 23-cent monthly dividend up until March, 2020, breezily insisting for months beforehand that its "dividend policy is not based on the market price of our shares." (The yield at the time of that comment was 14 per cent.) Ultimately, however, Vermilion capitulated and cancelled the dividend. It even overhauled its management shortly afterward in a bid to wipe some of the egg off its face. In its third quarter financials earlier this month, Vermilion said it was finally ready to bring back the dividend, but needed to "stress test" it before unveiling the rate. Analysts predicted that it would opt for a quarterly dividend of five to 10 cents. Today's announcement of a six-cent quarterly dividend is in line with those expectations, if at the low end. Investors were nonetheless pleased. Today's other announcement also seemed to cheer them up: Vermilion is buying a 36.5-per-cent interest in an Irish gas field called Corrib, adding 7,700 barrels a day of gas production and boosting its total interest in Corrib to 56.5 per cent. The Corrib field has been on production since 2015 and makes up nearly 100 per cent of Ireland's total gas output. Its operating costs are relatively low, which makes netbacks relatively high, especially at current record-breaking European gas prices. (It is a nice bit of timing that Vermilion's announcement came around the same time that Russia's Gazprom was boasting of record quarterly profits.) Vermilion understandably kept the focus on Corrib's near-term money-making prospects. The longer-term picture is less bright (and therefore absent from the press release), as the field is due to run out of reserves in the next decade or so, and the Irish government vowed last February to stop issuing any more oil or gas licences in the country. That does not faze Vermilion. During a conference call this morning, management predicted that European gas will make up just 22 per cent of Vermilion's production in 2022, yet contribute 42 per cent of funds from operations. It expects today's $435-million (U.S.) acquisition to have a payback period of just two years. Business Reporter