Boeing secures $883 million Army contract for cargo support services
CALGARY - Petrus Resources Ltd. (TSX:PRQ), a $129 million market cap oil and gas company, announced on Wednesday that its Board of Directors has declared a monthly dividend of $0.01 per share, payable July 31, 2025, to shareholders of record on July 15, 2025. The dividend represents an attractive 8.3% yield, according to InvestingPro data.
The Calgary-based oil and gas company confirmed the dividend is designated as eligible for Canadian income tax purposes.
Petrus also highlighted its Dividend Reinvestment Plan (DRIP), which allows eligible shareholders to reinvest their cash dividends into additional common shares issued from treasury at a 3% discount from the market price.
To participate in the optional DRIP program, registered shareholders must submit a completed enrollment form to Odyssey Trust Company before 4:00 p.m. Calgary time on the fifth business day preceding a dividend record date. Beneficial shareholders need to contact their brokers to determine eligibility and provide enrollment instructions.
The company noted that participation may be restricted for shareholders not resident in Canada.
Petrus Resources describes itself as a public Canadian oil and gas company focused on property exploitation, strategic acquisitions, and risk-managed exploration in Alberta.
This information is based on a press release statement issued by the company.
In other recent news, Petrus Resources reported its financial results for the first quarter of 2025, with earnings per share (EPS) at -$0.02 and revenue totaling $20.93 million. Despite a 10% increase in net debt, the company remains committed to its capital spending guidance of $40-50 million and plans to reduce its debt-to-cash flow ratio in the latter half of the year. Additionally, Petrus Resources declared a monthly dividend of $0.01 per share, payable on June 30, 2025, and introduced a Dividend Reinvestment Plan (DRIP) offering a 3% discount for eligible shareholders. At its recent annual general meeting, shareholders approved all proposed resolutions, including the election of five directors and the appointment of PricewaterhouseCoopers LLP as auditors. The board elections saw overwhelming support, with votes for the directors ranging from 99.75% to 99.97%. Petrus Resources continues to focus on operational efficiency and strategic capital deployment, with ongoing drilling and production efforts in core areas. The company has indicated plans to bring new wells online as part of its growth strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.