11 Apr 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable May 16, 2016 to holders of record April 22 (ex-dividend April 20). The amount is unchanged, and the boilerplate yield stays at about 7%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Mar 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable April 15, 2016 to holders of record March 22 (ex-dividend March 18). The amount is unchanged, and the boilerplate yield stays at about 7%.
11 Feb 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable March 15, 2016 to holders of record February 23 (ex-dividend February 19). The amount is unchanged, and the boilerplate yield stays at about 7%.
11 Jan 2016dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable February 16, 2016 to holders of record January 22 (ex-dividend January 20). The amount is unchanged. The boilerplate yield rises to about 7%, and the description changes: it now says 'international energy producer' rather than 'oil-leveraged producer', drops the '5% or more' growth figure, and refers to 'oil' drilling in France and Australia. The higher yield implies a lower share price (inference).
11 Dec 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable January 15, 2016 to holders of record December 22 (ex-dividend December 18). The amount is unchanged, and the boilerplate yield is about 5%.
12 Nov 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable December 15, 2015 to holders of record November 23 (ex-dividend November 19). The amount is unchanged, and the boilerplate yield is about 5%.
9 Oct 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable November 16, 2015 to holders of record October 22 (ex-dividend October 20). The amount is unchanged, and the boilerplate yield is about 5%.
11 Sept 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable October 15, 2015 to holders of record September 22 (ex-dividend September 18). The amount is unchanged, and the boilerplate yield is about 5%.
17 Aug 2015regulatory community update● Neutral
Vermilion released its second Sustainability Report, with 2014 figures: over 18 million boe produced, net revenue of more than $1.3 billion, over $272 million paid in dividends, almost $266 million in taxes and royalties, and $37 million devoted to protecting the environment. It is a reporting release with no transaction or change to the dividend; the boilerplate yield reads about 6%.
13 Aug 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable September 15, 2015 to holders of record August 24 (ex-dividend August 20). The amount is unchanged. The boilerplate yield reads about 5%, back from about 6% in the July 28 release.
28 July 2015farm in farm out agreement▲ GoodMajor
Vermilion signed a farm-in agreement on July 27, 2015 with Mobil Erdgas-Erdöl (held by ExxonMobil) and BEB Erdgas und Erdöl (held by ExxonMobil and Shell) for a 50% share of 19 undeveloped onshore exploration licences in northwest Germany (about 850,000 net acres). In return Vermilion will fund the other partners' remaining 50% share of 11 gross (6 net) exploration wells over five years. No production is acquired, Vermilion takes over as operator for the exploration phase on 11 licences, and closing is expected January 1, 2016 subject to approvals. This builds on its early-2014 entry into Germany; the earlier proposed GDF Suez consortium deal was never confirmed as closed in the filings seen. The release states a dividend yield of about 6%.
10 July 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable August 17, 2015 to holders of record July 22 (ex-dividend July 20). The amount is unchanged.
12 June 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable July 15, 2015 to holders of record June 22 (ex-dividend June 18). The amount is unchanged.
11 May 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable June 15, 2015 to holders of record May 22 (ex-dividend May 20). The amount is unchanged.
15 Apr 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable May 15, 2015 to holders of record April 27 (ex-dividend April 23). The amount is unchanged.
16 Mar 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable April 15, 2015 to holders of record March 31 (ex-dividend March 27). The amount is unchanged. The release also announces a new Premium Dividend component of its dividend reinvestment plan, effective with this payment: eligible shareholders can still reinvest at an effective 3% discount, or choose a premium cash payment equal to 101.5% of the reinvested dividends. Enrollment closes March 24, 2015.
17 Feb 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable March 16, 2015 to holders of record February 27 (ex-dividend February 25). The amount is unchanged.
15 Jan 2015dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable February 17, 2015 to holders of record January 30 (ex-dividend January 28). The amount is unchanged.
15 Dec 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable January 15, 2015 to holders of record December 31 (ex-dividend December 29). The amount is unchanged. The boilerplate now quotes a yield of approximately 5%, up from approximately 4% last month, and says growth targets include the Netherlands and Germany.
17 Nov 2014dividend declaration● Neutral
Vermilion declared its usual $0.215 CDN per share dividend, payable December 15, 2014 to holders of record November 28 (ex-dividend November 26). The amount is unchanged from prior months.
15 Oct 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable November 17, 2014 to holders of record October 31 (ex-dividend October 29). The amount is unchanged.
15 Sept 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable October 15, 2014 to holders of record September 30 (ex-dividend September 26). The amount is unchanged.
20 Aug 2014regulatory community update● Neutral
Vermilion released its first Sustainability Report, covering 2013. It cites 2013 figures of nearly 15 million boe produced, net revenue above $1.2 billion, more than $240 million in dividends paid, almost $290 million in taxes and royalties, and $37 million devoted to environmental protection. It is a reporting release with no new transaction or change to the business.
15 Aug 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable September 15, 2014 to holders of record August 29 (ex-dividend August 27). The amount is unchanged.
15 July 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable August 15, 2014 to holders of record July 31 (ex-dividend July 29). The amount is unchanged.
16 June 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable July 15, 2014 to holders of record June 30 (ex-dividend June 26). The amount is unchanged. The boilerplate now says management and directors hold about 6% of shares, down from about 8% (the filing gives no reason; the new shares issued in the Saskatchewan deal are a possible but unstated factor - inference).
15 May 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable June 16, 2014 to holders of record May 30 (ex-dividend May 28). The amount is unchanged.
30 Apr 2014business combination▲ GoodMajor
Vermilion completed the Saskatchewan acquisition announced March 18, naming the target as Elkhorn Resources Inc. Total consideration was about $427 million: about $42 million of assumed debt, $180 million cash and 2.8 million new Vermilion shares valued at about $205 million. This resolves the pending deal; the final price is higher than the $400 million first announced, driven by the share price at closing ($72.50 vs $63.81 assumed) and a cash figure of $180 million vs $172.5 million.
15 Apr 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable May 15, 2014 to holders of record April 30 (ex-dividend April 28). The amount is unchanged.
18 Mar 2014business combination▲ GoodMajor
Vermilion agreed to buy a private southeast Saskatchewan oil producer (Northgate region) for $400 million: $345 million in cash and shares (half cash from existing credit facilities, half in about 2.7 million new Vermilion shares) plus $55 million of assumed debt. It adds a new Williston Basin core area, and 2014 production guidance rises to 47,500-48,500 boe/d from 45,000-46,000 and the 2014 capital budget to $590 million from $555 million. Closing is expected around April 29, 2014, subject to court, shareholder and regulatory approvals; holders of about 60% of the target's shares have signed support agreements. The release does not mention the proposed Germany deal in its guidance discussion, though its business description still lists Germany.