Cardinal Energy Ltd. Announces New Dividend Rate for October

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Cardinal Energy ($TSX:CJ) Ltd. is a Canadian oil and gas company that focuses on the development and production of crude oil and natural gas. The company attributed the dividend decrease to the current environment of low oil and gas prices. Despite the decrease in dividend, the company remains committed to paying a dividend to its shareholders.

Dividends

The company issued dividend per share of 0.05 CAD for FY2022 Q2 as of June 30, compared to dividends of 0.0 CAD and 0.03 CAD issued last two years. Its dividend yields from 2020 to 2022 are 1.19%, nan%, 0.73%, thus three-year average dividend yiled is 0.96%.

Market Price

At the time of writing, the news sentiment was mostly positive. On Wednesday, Cardinal Energy stock opened at CA$8.1 and closed at CA$8.2, up by 0.6% from the previous closing price of 8.2. Cardinal Energy is a Canadian oil and gas company that is engaged in the exploration, development, and production of crude oil and natural gas. The company has a diversified portfolio of assets in the Western Canadian Sedimentary Basin.

The dividend is an eligible dividend for Canadian income tax purposes. Cardinal Energy’s dividend reinvestment plan and optional cash payment plan are available to shareholders who wish to have their dividends reinvested in additional common shares of the company, or to receive cash payments, respectively. For more information about the DRIP and optional cash payment plan, please visit the company’s website or contact its investor relations department.

VI Analysis

Cardinal Energy Ltd. is a Calgary-based oil and gas exploration, development and production company. The company’s operations are focused in the Western Canada Sedimentary Basin, specifically in Alberta and Saskatchewan. Cardinal Energy has a strong balance sheet and a good track record of cash flow generation.

However, the company’s income statement has been under pressure in recent years, due in part to lower oil and gas prices. The VI Risk Rating for Cardinal Energy is “medium”, which reflects the company’s financial and business risk factors. In particular, the VI App has identified two risk warnings in the company’s income statement and balance sheet. Register with us to access the full VI Risk Rating report for Cardinal Energy.

Summary

Cardinal Energy Ltd. is a Canadian oil and gas company that focuses on the production and sale of light oil and natural gas. The company’s stock has been performing well in recent months, and the announcement of the new dividend rate has been well-received by investors. There appears to be strong investor confidence in Cardinal Energy, and the company is a good option for those looking to invest in the oil and gas industry.