SMALL-CAP WINNERS & LOSERS: Gulf Keystone declares dividend

Fri, 21st Jun 2024 10:09

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

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SMALL-CAP - WINNERS

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Gulf Keystone Petroleum Ltd, up 6.1% at 150.40 pence, 12-month range 81.29p-155.65p. The and gas producer hails "robust" crude sales from the Shaikan field to the Kurdistan market recently. Sales in the year-to-date total around 38,700 barrels of oil per day. In May alone, sales averaged 48,200 bopd but have eased to 40,500 so far in June. GKP puts this down to the "temporary impact of Eid al-Adha celebrations on truck availability". GKP declared a 6.832 US cents per share interim dividend, worth USD15 million in total. GKP remains "committed" to returning excess cash to shareholders with an ambition to "reinstate an appropriate distributions policy to provide shareholders with greater clarity on returns."

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XPS Pensions Group PLC, up 1.1% at 286.00p, 12-month range 162.50p-294.00p. The pensions consulting and administration firm extends gains after a 4.8% rise on Thursday, when it reported improved annual results.

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SMALL-CAP - LOSERS

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XP Power Ltd, down 3.4% at 1,408.00p, 12-month range 682.40p-2,489.20p. The stock is down 12% so far this week. Shares in the power controllers maker have struggled after suitor Advanced Energy Industries Inc said Tuesday it no longer plans to make an offer for XP Power.

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By Eric Cunha, Alliance News news editor

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