Crescent Point Energy hikes dividend, again
BNN Bloomberg
For the second time in about two months, Crescent Point announced a richer dividend payment is on the way to shareholders.
In a release after markets closed Wednesday, the Calgary-based oil and gas producer said its quarterly dividend will rise almost 24 per cent to $0.08 per share, as of the payment scheduled for Oct. 3. It was only two days earlier, on July 4, that its shareholders received their first dividend since Crescent Point announced a hike of 40 per cent in May.
The richer payments were made possible by a winnowing-down of the company’s debt.
"Through our continued execution and capital discipline we have achieved our near-term net debt target ahead of our expected timeline," said Crescent Point President and Chief Executive Officer Craig Bryksa in the release Wednesday.