Past year: ▲ 57%(10.49 – 19.17 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Apr 2018dividend declaration▲ GoodMajor
Vermilion raised its monthly dividend to $0.23 CDN per share (from $0.215), payable May 15, 2018 to holders of record April 30 (ex-dividend April 27). It calls this the fourth increase since distributions began in 2003, ending the unchanged $0.215 level in place since February 2014. The filing is signed by Lars Glemser as VP and Chief Financial Officer, whereas earlier filings were signed by Curtis Hicks as CFO; the filing does not explain the change.
20 Mar 2018dividend declaration● Neutral
Vermilion corrected the dates for the April 16, 2018 dividend: ex-dividend is now March 28 and record date March 29, instead of March 29 and March 30, because of the March 30 statutory holiday. The $0.215 amount is unchanged.
19 Mar 2018dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable April 16, 2018 to holders of record March 30 (ex-dividend March 29), unchanged. The boilerplate yield reads about 6.5%. These dates were corrected in the next filing.
15 Feb 2018dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable March 15, 2018 to holders of record February 28 (ex-dividend February 27), unchanged. The boilerplate yield reads about 6%.
16 Jan 2018business combination▲ GoodMajor
Vermilion agreed to buy an unnamed private southeast Saskatchewan oil producer for $90.8 million cash, plus assumption of its debt, funded from existing credit facilities. The assets are in the Sinclair and Fertile areas on the Saskatchewan/Manitoba border, with about 42,600 net acres, ~1,150 bbl/d of oil in Q4 2017 and 6.7 mmboe of 2P reserves. Closing is expected around February 15, 2018, subject to court, shareholder and regulatory approvals. 2018 production guidance rises to 75,000-77,500 boe/d (from 74,500-76,500) and the capital budget to $325 million (from $315 million). It adds to the southeast Saskatchewan position first entered via Elkhorn in 2014.
16 Jan 2018dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable February 15, 2018 to holders of record January 31 (ex-dividend January 30), unchanged. The boilerplate yield is about 5.5%.
15 Dec 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable January 16, 2018 to holders of record December 29, 2017 (ex-dividend December 28), unchanged. The boilerplate yield is about 6.0%.
15 Nov 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable December 15, 2017 to holders of record November 30 (ex-dividend November 29), unchanged. The boilerplate yield is about 5.5%, and the CDP wording changed from a Climate 'A' List performer to a Climate Leadership level (A-) performer.
20 Oct 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable November 15, 2017 to holders of record October 31 (ex-dividend October 30), unchanged. The boilerplate yield is about 6.0%.
15 Sept 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable October 16, 2017 to holders of record September 29 (ex-dividend September 28), unchanged. The boilerplate yield is now about 6.0%, down from 6.5%.
15 Aug 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable September 15, 2017 to holders of record August 31 (ex-dividend August 29), unchanged. The boilerplate yield is about 6.5%.
17 July 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable August 15, 2017 to holders of record July 28 (ex-dividend July 26), unchanged. This is the first payment after the Premium Dividend component was discontinued. The boilerplate yield now reads about 6.5%, up from about 6%.
12 July 2017joint venture update▲ GoodMajor
Canada Pension Plan Investment Board (CPPIB) agreed to buy Shell's 45% interest in the Corrib gas field in Ireland for €830 million (plus possible contingent payments), with closing expected in the first half of 2018. Vermilion, which already holds 18.5%, would take over as operator and buy SEPIL (the Shell subsidiary holding the interest) along with a 1.5% working interest from CPPIB for €19.4 million, taking it to 20%. It plans to fund this from existing credit facilities. This replaces Shell as operator, which was a role noted in earlier context; the deal is subject to conditions and government consents.
20 June 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable July 17, 2017 to holders of record June 30 (ex-dividend June 28), unchanged. It confirmed the Premium Dividend component of the reinvestment plan is discontinued from the July 2017 payment, so former participants receive the regular cash dividend on 100% of their shares, and there is no further share issuance under that component. This completes the phase-out begun in October 2016. The boilerplate yield reads about 6%, up from about 5%.
16 May 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable June 15, 2017 to holders of record May 23 (ex-dividend May 18), unchanged. The company now says it 'plans to discontinue' the Premium Dividend component from the July 2017 payment, dropping the earlier 'subject to commodity price' caveat. The boilerplate now describes employees and directors as holding about 6.5% of fully diluted shares, replacing the earlier 'management and directors ~5% of outstanding shares'. This is a different basis, so it is not necessarily a change in holding.
13 Apr 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable May 15, 2017 to holders of record April 24 (ex-dividend April 20), unchanged, and repeated its intent to discontinue the Premium Dividend component from the July 2017 payment. It also announced William Roby, a former Occidental Petroleum senior executive, will join the board effective April 26, 2017 and stand for election at the April 28 meeting, which raises the number of directors to be elected from nine to ten. Co-founder and director since 1994 Claudio Ghersinich will not stand for re-election. Mr. Roby owns no Vermilion shares currently.
13 Mar 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable April 17, 2017 to holders of record March 22 (ex-dividend March 20). The amount is unchanged. It is raising the Premium Dividend proration by a further 25% from the April 17 payment, so participants get the 1.5% premium on 25% of their participating shares and regular cash on 75%. It now says, subject to unexpected commodity price changes, it intends to discontinue the Premium Dividend component from the July 2017 payment, with no further share issuance under it. This firms up the earlier 'during 2017' wording to a specific date.
13 Feb 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable March 15, 2017 to holders of record February 23 (ex-dividend February 21). The amount is unchanged. The 50% Premium Dividend proration continues, with the same stated intent to keep increasing it during 2017. The boilerplate yield is about 5%.
13 Jan 2017dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable February 15, 2017 to holders of record January 24 (ex-dividend January 20). The amount is unchanged. It restated that the Premium Dividend proration reached 50% with the January 16 payment and that it intends to keep increasing it during 2017, ending equity issuance under that component. The boilerplate yield is about 5%.
19 Dec 2016business combination▲ GoodMajor
Vermilion completed the German acquisition from Engie E&P Deutschland GmbH announced in June 2016. Total consideration is €33 million ($46.2 million, versus $47.9 million quoted in June), and after adjustments for cash flows since the January 1, 2016 effective date its cash cost is projected at about €28.3 million ($39.6 million). The assets are operated and non-operated interests in five oil and three gas fields plus one operated exploration licence, with Vermilion operating six of the eight fields. They averaged 2,000 boe/d (51% oil) in 2016 through October; the company expects about 10% growth in 2017 on €3.6 million ($5.1 million) of budgeted capital and forecasts about €17.6 million ($24.9 million) of 2017 fund flows from the assets.
9 Dec 2016dividend declaration● NeutralMajor
Vermilion declared a $0.215 CDN per share dividend payable January 16, 2017 to holders of record December 22 (ex-dividend December 20). The amount is unchanged. It is raising the Premium Dividend proration by a further 25% from this payment, so participants get the 1.5% premium on 50% of their participating shares and regular cash on the other 50%. The company repeated that it intends to keep increasing proration during 2017, ending with no further share issuance under that component.
10 Nov 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable December 15, 2016 to holders of record November 22 (ex-dividend November 18). The amount is unchanged. The 25% Premium Dividend proration continues, with the company repeating its intent to keep increasing it during 2017. The boilerplate yield is about 5%.
31 Oct 2016regulatory community update▲ Good
Vermilion announced it was named to CDP's Climate 'A' List for 2016 (one of 193 companies globally and, per the company, the only North American energy company on it) and released its third annual Sustainability Report. This is a reporting and recognition release with no transaction or change to the dividend. The boilerplate yield is about 5%, and management and directors' holding is now stated as about 5% (previously about 6%).
14 Oct 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable November 15, 2016 to holders of record October 24 (ex-dividend October 20). The amount is unchanged. It confirmed the 25% Premium Dividend proration began with the October 17 payment and repeated its intent to keep increasing it during 2017. The boilerplate yield is about 5%.
12 Sept 2016dividend declaration● NeutralMajor
Vermilion declared a $0.215 CDN per share dividend payable October 17, 2016 to holders of record September 22 (ex-dividend September 20). The amount is unchanged. It also said, as previously announced, it will prorate the Premium Dividend part of its reinvestment plan by 25% from this payment, so participants get the 1.5% premium on 75% of their shares and regular cash on the other 25%. The company intends to keep increasing the proration during 2017, ending with no further share issuance under the Premium Dividend component. The boilerplate yield reads about 5%.
12 Aug 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable September 15, 2016 to holders of record August 22 (ex-dividend August 18). The amount is unchanged, and the boilerplate yield reads about 6%.
11 July 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable August 15, 2016 to holders of record July 22 (ex-dividend July 20). The amount is unchanged. The boilerplate yield now reads 'in excess of 6%'.
29 June 2016business combination▲ GoodMajor
Vermilion agreed to buy interests in several German oil and gas assets from Engie E&P Deutschland GmbH for €33 million ($47.9 million), effective January 1, 2016, with closing expected in late Q4 2016 and funding from existing credit facilities. The assets are five oil and three gas producing fields plus an operated exploration licence, forecast at about 2,000 boe/d in 2016 (50% oil) with 9.2 million boe of proved plus probable reserves (GLJ). The filing says these are Vermilion's first operated producing properties in Germany, building on its 2014 entry through a 25% non-operated consortium interest and the July 2015 farm-in.
10 June 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable July 15, 2016 to holders of record June 22 (ex-dividend June 20). The amount is unchanged, and the boilerplate yield stays at about 6%. The investor relations contact is now Kyle Preston, Director, Investor Relations, replacing Dean Morrison.
13 May 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable June 15, 2016 to holders of record May 24 (ex-dividend May 20). The amount is unchanged, and the boilerplate yield eases to about 6% from 7%.
