Past year: ▲ 34%(25.01 – 33.91 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2014dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable February 18, 2014 to holders of record January 31, 2014 (ex-dividend January 29). The rate is unchanged at $1.20 per share over twelve months, and the stated enterprise value is about $10 billion. The stock dividend and reinvestment options are restated at a 5% discount, with cash as the default.
19 Nov 2013dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable December 16, 2013 to holders of record November 29, 2013 (ex-dividend November 27). The rate is unchanged at $1.20 per share over twelve months. The stated enterprise value is about $10 billion, up from about $9 billion in the October notice. The release restates that the Stock Dividend Program and reinvestment plan are optional, both at a 5% discount, with cash as the default.
17 Oct 2013dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable November 15, 2013 to holders of record October 31, 2013 (ex-dividend October 29). The rate is unchanged at $1.20 per share over twelve months, and the stated enterprise value is about $9 billion. The stock dividend and reinvestment options are restated.
17 Sept 2013dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable October 15, 2013 to holders of record September 30, 2013 (ex-dividend September 26). The rate is unchanged at $1.20 per share over twelve months, and the stated enterprise value is about $9 billion. The stock dividend and reinvestment options are restated.
16 Aug 2013dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable September 16, 2013 to holders of record August 30, 2013. The rate is unchanged at $1.20 per share over twelve months, and the stated enterprise value is about $8.8 billion. The release restates that the Stock Dividend Program and reinvestment plan are optional and that cash remains the default.
16 May 2013dividend declaration● NeutralMajor
ARC confirmed a $0.10 per share eligible dividend payable June 17, 2013 to holders of record May 31, 2013. Shareholders approved a Stock Dividend Program at the May 15, 2013 meeting, letting holders take dividends as new common shares at a 5% discount to market price instead of cash; it applies from the May 31 record date, with the first stock dividend expected around June 17, 2013. Cash remains the default, so shares issued to participants would add to the share count (inference). Trailing payments are $1.20 per share and enterprise value is about $9 billion.
21 Mar 2013dividend declaration● Neutral
ARC corrected the ex-dividend date for the April 15, 2013 payment to March 26, 2013 instead of the previously announced March 27, because of the March 29 statutory holiday. The $0.10 dividend, March 29 record date and $1.20 trailing twelve-month total are unchanged; stated enterprise value is about $9.2 billion.
15 Feb 2013dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable March 15, 2013 to holders of record February 28, 2013 (ex-dividend February 26). The rate is unchanged at $1.20 per share over twelve months, and the stated enterprise value is about $8.5 billion, up from about $8 billion in January.
16 Jan 2013dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable February 15, 2013 to holders of record January 31, 2013. The rate is unchanged at $1.20 per share over twelve months, and enterprise value is about $8 billion. The release is now signed by Myron M. Stadnyk as President and CEO, replacing John Dielwart in that role on earlier notices (the filing does not explain the change). It also newly mentions the dividend reinvestment plan, which lets Canadian holders reinvest dividends in shares at a 5% discount.
17 Dec 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable January 15, 2013 to holders of record December 31, 2012 (ex-dividend December 27). The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $8 billion.
19 Nov 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable December 17, 2012 to holders of record November 30, 2012 (ex-dividend November 28). The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $8 billion.
16 Oct 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable November 15, 2012 to holders of record October 31, 2012 (ex-dividend October 29). The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $8 billion.
18 Sept 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable October 15, 2012 to holders of record September 28, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $8 billion. The dividend rate was held steady through the August share issue.
12 Sept 2012debt financing● Neutral
ARC filed the legal documents for the August 2012 private notes: US$60 million 3.31% Series G due August 23, 2021, US$300 million 3.81% Series H due August 23, 2024, and Cdn$40 million 4.49% senior notes. It also filed the Fifth Amendment (dated April 14, 2012) to its Prudential master shelf agreement, which extends the period for issuing notes to April 14, 2015 and updates sanctions and anti-money-laundering wording. This is paperwork for the financing already announced; the visible text shows no new figures beyond those. The extension fee and issuance fee amounts are redacted. The Prudential facility had been listed as running to April 2012, so this extension updates that thread.
22 Aug 2012capital raising announcement● NeutralMajor
The bought deal closed with the over-allotment fully exercised: about 14.6 million common shares at $23.65, for gross proceeds of about $345 million. Proceeds are intended to reduce debt, increase working capital and fund capital programs, a slightly wider use than the August 1 announcement. The private notes also closed on August 10, 2012, with funding expected around August 23: US$300 million at 3.81% (10-year average life), US$60 million at 3.31% (seven-year average life) and $40 million at 4.49% (10-year average life). The notes are unsecured and rank equally with the bank facilities and other senior notes. This completes the financing announced August 1.
7 Aug 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable September 17, 2012 to holders of record August 31, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $7.8 billion. The notice does not mention the share offering announced a week earlier.
2 Aug 2012capital raising announcement● NeutralMajor
ARC agreed to sell 12.685 million common shares at $23.65 each for about $300 million (up to $345 million if the over-allotment option of 1,902,750 shares is used), led by RBC Capital Markets. Net proceeds are for working capital and capital programs. ARC also priced US$360 million and $40 million of fixed-rate private notes to repay credit facility borrowings. ARC cut its 2012 capital program to $600 million from $760 million, citing low natural gas prices and volatile crude oil differentials in the first half. Preliminary 2013 spending is about $800 million, with the first phase of two planned Parkland gas processing plants commissioning late in 2013. At the end of Q2, borrowings were $892 million against $1.6 billion of credit capacity. This is a new share issue, so it dilutes existing holders.
16 July 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable August 15, 2012 to holders of record July 31, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $7.7 billion, up from about $6.8 billion in June.
19 June 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable July 16, 2012 to holders of record June 29, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the stated enterprise value is about $6.8 billion, down from about $7.8 billion in the March notice.
21 Mar 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable April 16, 2012 to holders of record March 30, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $7.8 billion.
16 Feb 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable March 15, 2012 to holders of record February 29, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $7.8 billion.
17 Jan 2012dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable February 15, 2012 to holders of record January 31, 2012. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $7.7 billion. The cover page says 'January 2011', which looks like a typo since the filing is dated January 16, 2012.
20 Dec 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable January 16, 2012 to holders of record December 30, 2011. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $8 billion.
16 Nov 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable December 15, 2011 to holders of record November 30, 2011. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $8 billion.
17 Oct 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable November 15, 2011 to holders of record October 31, 2011. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $7.5 billion.
16 Sept 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable October 17, 2011 to holders of record September 30, 2011. The rate is unchanged and trailing twelve-month payments are $1.20 per share. The stated enterprise value fell to about $7.2 billion from about $8 billion in August.
16 Aug 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable September 15, 2011 to holders of record August 31, 2011. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $8 billion.
16 May 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable June 15, 2011 to holders of record May 31, 2011. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and enterprise value is about $8 billion. This release no longer repeats the production guidance in the body text.
15 Apr 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable May 16, 2011 to holders of record April 29, 2011. The rate is unchanged, trailing twelve-month payments are $1.20 per share, and the 2011 production guidance of 84,000 to 87,000 boe/d and enterprise value of about $8 billion are repeated.
16 Mar 2011dividend declaration● Neutral
ARC confirmed a $0.10 per share eligible dividend payable April 15, 2011 to holders of record March 31, 2011. This is the first of these notices to show the converted corporation paying a dividend on its common shares, at the same $0.10 monthly rate planned at conversion. Trailing twelve-month payments total $1.20 per share, and the release gives enterprise value of about $8 billion and 2011 production guidance of 84,000 to 87,000 boe/d.
