17 Mar 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable April 15, 2014 to holders of record March 31 (ex-dividend March 27). The amount is unchanged.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Feb 2014dividend declaration● Neutral
Vermilion declared a $0.215 CDN per share dividend payable March 17, 2014 to holders of record February 28 (ex-dividend February 26). The amount is unchanged from the prior month's raised rate.
15 Jan 2014dividend declaration▲ Good
Vermilion declared the higher dividend of $0.215 CDN per share, payable February 18, 2014 to holders of record January 31 (ex-dividend January 29). This resolves the increase flagged since November 2013; the release calls it the third increase since 2003 and the second since 2012.
16 Dec 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable January 15, 2014 to holders of record December 31 (ex-dividend December 27). It repeats that the increase to $0.215 is pending final board approval on January 15, 2014 (this release gives the payment date as February 18, 2014, versus February 17 in earlier releases).
4 Dec 2013regulatory community update▲ Good
Vermilion received the 2013 Circular Economy Award for Industrial and Regional Ecology from the French government for a partnership in which heat from produced water at its Parentis field warms the greenhouses of tomato grower Tom d'Aqui. The release says the project supports 150 local jobs and that a 5-hectare greenhouse expansion is planned for 2016; the filing gives no financial figures for Vermilion.
15 Nov 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable December 16, 2013 to holders of record November 29 (ex-dividend November 27). It repeats the previously announced increase to $0.215 from the January 2014 dividend, still subject to final board approval on January 15, 2014.
7 Nov 2013dividend declaration▲ GoodMajor
The board approved a 7.5% increase in the monthly dividend to $0.215 CDN from $0.20, expected to start with the January 2014 dividend payable February 17, 2014, subject to final board approval on January 15, 2014. The release also says Vermilion completed a Netherlands acquisition (Northern Petroleum Nederland B.V.) on October 10, 2013 and proposes to buy a 25% participation interest in a German consortium from GDF Suez E&P Deutschland (estimated cash cost about $170M, target close by December 31, 2013 or by January 31, 2014). For 2014 it set a development budget of about $555M, expects 2014 production of 45,000-46,000 boe/d (about 10-12% growth, assuming the German deal closes January 31), raised 2013 development capital to $530M, and now expects first gas at Corrib around mid-2015 after tunnelling restarted November 3 following a worksite fatality.
17 Oct 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable November 15, 2013 to holders of record October 31 (ex-dividend October 29). The amount is unchanged. The boilerplate now describes the company's yield as 'in excess of 4%' (previously about 5%) and says growth is 'organic' production growth of about 5%.
16 Sept 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable October 15, 2013 to holders of record September 30 (ex-dividend September 26). The amount is unchanged.
15 Aug 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable September 16, 2013 to holders of record August 30 (ex-dividend August 28). The amount is unchanged.
15 July 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable August 15, 2013 to holders of record July 31 (ex-dividend July 29). The amount is unchanged.
17 June 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable July 15, 2013 to holders of record June 28 (ex-dividend June 26). The amount is unchanged.
15 May 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable June 17, 2013 to holders of record May 31 (ex-dividend May 29). The amount is unchanged.
15 Apr 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable May 15, 2013 to holders of record April 30 (ex-dividend April 26). The amount is unchanged.
15 Mar 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable April 15, 2013 to holders of record March 28 (ex-dividend March 26). The release now lists the shares on the NYSE as well as the TSX under VET, so the planned New York listing appears to have happened. It also now states a target of about 5% annual growth and a current yield of about 5%.
15 Feb 2013dividend declaration● Neutral
Vermilion declared a $0.20 CDN per share dividend payable March 15, 2013 to holders of record February 28 (ex-dividend February 26). This is the first monthly declaration at the higher rate.
15 Jan 2013dividend declaration▲ GoodMajor
Vermilion confirmed the dividend increase of 5.3% to $0.20 CDN per share, up from $0.19, payable February 15, 2013 to holders of record January 31 (ex-dividend January 29). This resolves the pending increase flagged since November 2012; the release says the dividend has never been reduced and this is the second increase since 2003 (the December 27 release called it the third, so the filings are inconsistent on the count).
3 Jan 2013business combination▲ GoodMajor
Vermilion closed its purchase of 100% of ZaZa Energy France (from ZaZa Energy Corporation), which holds 100% working interests in five Paris Basin fields, adding to its French oil operations. It paid about US$76 million cash at closing, current production is about 850 bbl/d of light crude, and about 6.3 million boe of proved plus probable developed producing reserves (GLJ) are attributed to it. The company states more than $500 million of borrowing capacity remains, and that it has started the process for a secondary NYSE listing expected in the first quarter of 2013.
17 Dec 2012dividend declaration● Neutral
Vermilion declared its usual $0.19 CDN per share dividend, payable January 15, 2013 to holders of record December 31, 2012 (ex-dividend December 27). It repeats that the board has approved a raise to $0.20 from the February 15, 2013 payment, still subject to final board approval around mid-January.
15 Nov 2012dividend declaration▲ GoodMajor
Vermilion declared a $0.19 CDN per share dividend payable December 17, 2012 to holders of record November 30 (ex-dividend November 28). It also says its board has approved a 5.3% increase in the monthly dividend to $0.20 CDN, expected to take effect with the January 2013 dividend payable February 15, 2013, subject to final board approval and formal declaration around mid-January.
15 Oct 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable November 15, 2012 to holders of record October 31 (ex-dividend October 29). The amount is unchanged.
17 Sept 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable October 15, 2012 to holders of record September 28 (ex-dividend September 26). The amount is unchanged; the company description now says it believes it is well positioned to provide steady growth and stable and growing dividends.
15 Aug 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable September 17, 2012 to holders of record August 31 (ex-dividend August 29). The amount is unchanged.
16 July 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable August 15, 2012 to holders of record July 31 (ex-dividend July 27). The amount is unchanged.
15 June 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable July 16, 2012 to holders of record June 29 (ex-dividend June 27). The amount is unchanged.
15 May 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable June 15, 2012 to holders of record May 31 (ex-dividend May 29). The amount is unchanged.
16 Apr 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable May 15, 2012 to holders of record April 30 (ex-dividend April 26). The amount is unchanged.
15 Mar 2012dividend declaration● Neutral
Vermilion declared a $0.19 CDN per share dividend payable April 16, 2012 to holders of record March 30 (ex-dividend March 28). The amount is unchanged.
15 Feb 2012dividend declaration● Neutral
Vermilion declared its usual $0.19 CDN per share dividend, payable March 15, 2012 to holders of record February 29 (ex-dividend February 27). The amount is unchanged.
24 Jan 2012business combination▲ GoodMajor
Vermilion closed its purchase of working interests in six French oil fields from Total E&P France, the deal announced in December 2011. It paid about $108 million cash at closing (the December estimate was about C$115 million), and now holds 100% operated interests in five of the fields and a 56% non-operated interest in Dommartin-Lettree. The assets are expected to produce about 2,200 boe per day in 2012 and add an estimated 6.7 million boe of proved plus probable reserves. Remaining borrowing capacity is stated as about C$640 million (December estimate was about C$650 million).