Company Overview and News
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Following an in-depth look at the asset portfolio in a previous piece, I review the operations, production outlook, and profitability of Eagle Energy.
Note: All figures are in USD unless otherwise stated. Granite Oil (GXOCF) trades primarily on the Toronto Stock Exchange as GXO.
Monthly Pay (MoPay) dividend equities are distinguished by awarding dividend payouts to shareholders twelve times a year instead once, twice, or four times.
Granite Oil inherited the Ferguson Alberta Bakken trend from predecessor DeeThree, with the goal of being a stable cashflow-generating dividend distributor. (10-0)
* GRANITE OIL CORP - VOLUNTARILY REDUCED AVAILABILITY UNDER CREDIT FACILITY FROM $60 MILLION TO $50 MILLION Source text for Eikon: Further company coverage:
* GRANITE OIL CORP - BOARD TO REDUCE MONTHLY DIVIDEND FROM $0.035 TO $0.023 PER COMMON SHARE Source text for Eikon: Further company coverage:
This is the concluding article in a three-piece series that explores the optimal investment strategy in an oil upcycle. (38-1)
The current policy of paying out nearly all the projected free cash flow is expected to continue indefinitely. Significant production growth is not on the horizon despite large in place reserves.
* FY capital expenditures (net of expected dispositions) is anticipated to be $16.3 million, a 25% reduction from 2016
The forecast of C$40 million cash flow is lower than a few months ago but still a provides a conservative debt-to cash flow from operations ratio. (32-0)
CALGARY, ALBERTA--(Marketwired - May 15, 2017) - GRANITE OIL CORP. ("Granite") (TSX:GXO)(OTCQX:GXOCF) is pleased to announce that a dividend of $0.035 per common share will be paid in cash on June 15, 2017 to shareholders of record on May 31, 2017. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
The stock now has a historically high yield. Slow growth plus the 8% dividend would imply a lower risk return of at least 12%.
CALGARY, ALBERTA--(Marketwired - May 10, 2017) - GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) is pleased to announce the results from its 2017 annual general meeting of shareholders held on May 10, 2017 in Calgary, Alberta (the "Meeting"). Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated April 10, 2017, a copy of which is available on the Company's SEDAR profile at www.
CALGARY, ALBERTA--(Marketwired - May 9, 2017) - GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) is pleased to release its financial and operational results and operational update for the three months ended March 31, 2017.