Tamarack Valley Energy Ltd (TSE:TVE) Announces Dividend Increase – $0.05 Per Share

Tamarack Valley Energy Ltd (TSE:TVE) announced a quarterly dividend on Tuesday, September 15th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.05 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 25.0% increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04.

Tamarack Valley Energy Stock Down 2.0%

Shares of Tamarack Valley Energy stock traded down C$0.27 on Friday, reaching C$13.29. The stock had a trading volume of 1,884,468 shares, compared to its average volume of 2,056,616. Tamarack Valley Energy has a 1 year low of C$5.68 and a 1 year high of C$14.11. The company has a 50 day moving average price of C$13.26 and a 200 day moving average price of C$12.34. The company has a quick ratio of 0.80, a current ratio of 2.30 and a debt-to-equity ratio of 18.26. The stock has a market capitalization of C$6.31 billion, a P/E ratio of 189.86 and a beta of 0.26.

Tamarack Valley Energy (TSE:TVE) last issued its earnings results on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$493.95 million for the quarter. Tamarack Valley Energy had a return on equity of 1.34% and a net margin of 1.50%. As a group, equities research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insiders Place Their Bets

In related news, Director Shannon Joseph bought 27,521 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the transaction, the director directly owned 66,376 shares in the company, valued at C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. Corporate insiders own 1.32% of the company’s stock.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.