Past year: ▼ 21%(3.08 – 8.61 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Dec 2020regulatory community update▲ GoodMajor
Husky and Cenovus Energy announced they have obtained all key regulatory approvals for their previously announced combination under a plan of arrangement. Subject to customary closing conditions, the deal is expected to close January 1, 2021, with the combined company operating as Cenovus Energy Inc., headquartered in Calgary. The filing does not state what Husky shareholders will receive, so their treatment is not yet resolved here.
29 Oct 2020dividend declaration● Neutral
Husky declared a common dividend of $0.0125 per share for the quarter ended September 30, 2020, payable January 4, 2021 to holders of record December 1, 2020. This keeps the dividend at the reduced level set in April and held in July. Regular preferred dividends on Series 1, 2, 3, 5 and 7 are payable December 31, 2020, with Series 5 at 4.591% and Series 7 at 3.935%, indicating holders kept those fixed-rate shares (inference from the rates being paid).
6 Aug 2020capital raising announcement● NeutralMajor
Husky agreed to issue C$1.25 billion of 3.50% notes maturing February 7, 2028, sold in Canada only to non-U.S. persons, with closing expected August 7, 2020. Proceeds are for general corporate purposes, which may include repaying its $500 million unsecured non-revolving term loan; this adds to the 2025 notes issued in 2015.
5 Aug 2020regulatory community update● Neutral
Husky released its 2020 ESG Report, setting a target to cut greenhouse gas emissions intensity (Scope 1) by 25% by 2025 and a target of 25% women in senior leadership roles (Vice President level and above). It also states an aspiration to reach net zero by 2050. These are goals, not results, and the filing gives no cost or financial figures.
30 July 2020dividend declaration● Neutral
Husky declared a common dividend of $0.0125 per share for the quarter ended June 30, 2020, payable October 1, 2020 to holders of record September 1. This holds the dividend at the reduced level set in April. Regular preferred dividends for Series 1, 2, 3, 5 and 7 are payable September 30.
1 June 2020dividend declaration● Neutral
Husky said it will not redeem its Series 7 preferred shares on June 30, 2020, so holders can keep them at a new fixed 3.935% or convert one-for-one into floating-rate Series 8 shares (3.775% for the first quarter). The conversion deadline is June 15, 2020, and conversion is subject to minimum-outstanding conditions. This follows the same process for Series 5 in March.
29 Apr 2020dividend declaration▼ BadMajor
Husky cut its common dividend to $0.0125 per share for the quarter ended March 31, 2020, down from $0.125 the prior quarter, payable July 2, 2020 to holders of record June 9. The filing gives no reason for the cut. Regular preferred dividends were maintained. (The form text says 'July 2, 2019', but the exhibit says 2020.)
2 Mar 2020dividend declaration● Neutral
Husky said it will not redeem its Series 5 preferred shares (issued in 2015) on March 31, 2020, so holders can keep them at a new fixed 4.591% rate or convert one-for-one into floating-rate Series 6 shares (5.208% for the first quarter). The conversion deadline is March 16, 2020, and conversion is subject to minimum-outstanding conditions.
27 Feb 2020dividend declaration● Neutral
Husky declared a common dividend of $0.125 per share for the quarter ended December 31, 2019, payable April 1, 2020 to holders of record March 17. Regular preferred dividends for Series 1, 2, 3, 5 and 7 were also announced, payable March 31.
12 Dec 2019dividend declaration● Neutral
Husky revised the fixed dividend rate on its Series 3 preferred shares for the five years from December 31, 2019 to 4.689%, up from the 4.636% announced December 2, because the five-year bond yield was recalculated as of December 2. The Series 4 floating rate stays at 4.782%.
12 Mar 2015capital raising announcement● NeutralMajor
Husky completed the $750 million, 3.55% notes offering due March 12, 2025 that it announced on March 9. Net proceeds are to partly repay short-term debt incurred for its U.S. refining operations.
12 Mar 2015capital raising announcement● NeutralMajor
Husky closed an upsized offering of 8,000,000 Series 5 preferred shares for $200 million gross, paying a fixed 4.50% dividend through March 31, 2020 and then reset every five years. Proceeds are to partly repay short-term debt from its U.S. refining operations, the same use as the notes offering this week.
10 Mar 2015debt financing● NeutralMajor
Husky agreed to issue $750 million of 3.55% notes maturing March 12, 2025, sold in Canada only. The proceeds are to partly repay short-term debt incurred for its U.S. refining operations.
1 Aug 2013regulatory community update▲ GoodMajor
Husky received regulatory approval (announced June 5, 2013) for an amendment to the South White Rose development plan, the third satellite extension at the White Rose field offshore Newfoundland and Labrador. The amendment adds gas injection and gives access to an estimated 6.5 million extra barrels (Husky share) on top of the roughly 20 million barrels targeted; gas injection is expected to start in 2013 and first oil in 2014, per the company's forward-looking statements.
