CALGARY, AB - PetroTal Corp. (TSX: TAL, AIM: PTAL, OTCQX: PTALF), an oil and gas development and production company, has announced the completion of its fourth-quarter dividend payment of US$0.015 per share, which was distributed on Monday to shareholders of record as of late November. The annualized dividend yield based on the current trading price is 14.6%.
In conjunction with the dividend payment, PetroTal has granted performance share units (PSUs) to its employees and officers as part of its compensation plan. A total of 724,842 PSUs were issued following the December 13 dividend distribution, with 436,641 allocated to officers and the remaining 288,201 to other employees. These PSUs will vest based on the original grant date.
The company, which is focused on oil asset development in Peru and is the largest crude oil producer in the country, has a total of 18,334,602 PSUs outstanding. PetroTal's flagship asset is the Bretana oil field in Peru's Block 95, where production began in June 2018.
The recent distribution of PSUs aims to align the interests of PetroTal's employees and officers with those of its shareholders and to incentivize the continued success of the company.
This announcement is based on a press release statement from PetroTal Corp. and does not constitute an endorsement of the company or its practices. It is intended for informational purposes only.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.