RE: Here we go: Dividend & Buyback16 May 2023 18:08
Malcy comment:-
This capital repayment to shareholders via dividends and buy-backs is the beginning of the making of PetroTal as one of the leading total return companies in the sector. With the quarterly dividend on its own giving the company a very decent starting yield of around 10%, plus the $3m quarterly buy-back up to another $12m over the year being up to 5% of the issued capital giving another c.3% .
And there’s more, whisper it very carefully but should the Bretana field continue to deliver at 20/- b/d there is no reason why as the year goes on, that dividend could be higher, after all should the cash level exceed pre-agreed levels then the current level may look somewhat how you say, parsimonious…
My 150p target price has looked a bit toppy but that has never worried me before and I’m not going to start panicking now, I’ve rarely more comfortable about a target, PTAL is on the launch pad and somebody just lit the fuse.