[londoncalling]

Loblaw hikes dividend by 11% as Canadians dining in boost profit (msn.com)

 

[londoncalling]

Western Forest Products Inc. Increases Dividend (tmx.com)

"An increase of 25% in the quarterly dividend. Western confirms that a quarterly dividend of $0.0125 per share will be paid with respect to the Company's second fiscal quarter of 2022 to shareholders of record as at the close of business on Friday, May 27, 2022 and payable on Friday, June 17, 2022."

 

[Birder]

TMX Money

money.tmx.com

Quarterly dividend increased to $0.3386 per share, up 7.1 per cent over the prior year, representing our twenty-second increase since 2011

 

[doctrine]

Flurry of oil and gas company dividend increases:

Enerplus 30% dividend increase, will complete 10% buyback this summer: Enerplus Announces a 30% Dividend Increase Effective with the June 2022 Dividend Payment

ARC resources 20% increase, will also complete a 10% buyback: ARC Resources Ltd. Reports Strong First Quarter 2022 Results and a 20 Per Cent Increase to Its Dividend

Tourmaline $1.50 special dividend, announces specials for next 2 quarters; yielding close to 10% on special+regular dividend: TOURMALINE DELIVERS RECORD CASH FLOW AND FREE CASH FLOW IN Q1 2022 AND ANNOUNCES SPECIAL DIVIDEND

 

[AltaRed]

Not to distract specifically in this thread on O&G cash flow windfalls, but it would be wise for O&G to declare special dividends once a year rather than increase their quarterly dividend payout practices too far. It would be even better to action a 3 prong approach to cash flow windfalls, i.e. share buybacks, debt reduction and special dividends in some ratio.

A company usually wants to carry some debt which carries a lower cost of capital than equity but a number of successful O&G companies have carried zero net debt on their balance sheets from time to time. I would applaud companies for taking debt down to very low levels such that D/E ratios are under 0.2 and even as low as 0.1.

 

[doctrine]

Not to distract specifically in this thread on O&G cash flow windfalls, but it would be wise for O&G to declare special dividends once a year rather than increase their quarterly dividend payout practices too far. It would be even better to action a 3 prong approach to cash flow windfalls, i.e. share buybacks, debt reduction and special dividends in some ratio.

A company usually wants to carry some debt which carries a lower cost of capital than equity but a number of successful O&G companies have carried zero net debt on their balance sheets from time to time. I would applaud companies for taking debt down to very low levels such that D/E ratios are under 0.2 and even as low as 0.1.

Yes, I'm looking for a balance too and have a healthy memory of the income trust days and pre-2014 companies with unsustainable dividends (CPG anyone?), and my investments are in the lower debt oil and gas companies that are still lowering debt, while having a healthy dividend, and making a level of share buybacks or specials. Most are aligning their regular dividend payment to supporting their business at $50 WTI or so. Tourmaline is the lowest debt company by far, nearly debt-free and at a 0.1 D/E ratio already, it is quite remarkable to see Canada's largest natural gas producer in such a strong financial position - only $166M of bank debt vs > $4B of annual cash flow.

 

[londoncalling]

Suncor Energy quarterly profit jumps more than three-fold (msn.com)

Suncor Energy boosted its quarterly dividend by 12% to a record 47 Canadian cents per share.

 

[londoncalling]

https://money.tmx.com/en/quote/AQN/news ... 1596059275

6% increase from Algonquin (AQN) from 0.171 to 0.1808 USD

 

[doctrine]

Crescent Point Energy increased its dividend by 40% to $0.065 per share.

TMX Money

money.tmx.com

CPG already increased their dividend by 50% two quarters ago. Of course, they used to pay $0.23 a month vs $0.26 a year. But the company is in a much better financial position than 2014, with similar production, but 40% less debt and dropping rapidly, and paying 87% less in dividends.