Tourmaline Oil Corp. Approaches Ex-Dividend Date

2 min read | August 06, 2024 12:00 AM EDT | By Team Kalkine Media

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Tourmaline Oil Corp. Approaches Ex-Dividend Date — Image source: Shutterstock

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Highlights

Tourmaline Oil Corp. will go ex-dividend on August 9th, with a dividend payment of CA$0.50 per share set for August 21st.
With a trailing yield of 9.1%, Tourmaline Oil's dividend is supported by a modest payout ratio of 27% of profit and 32% of free cash flow.
The company’s current dividend payout indicates a sustainable policy, reflecting a strong balance between profit and cash flow coverage.

Tourmaline Oil Corp. (TSX:TOU) is approaching its ex-dividend date on August 9th. The ex-dividend date is significant as it is one business day before the record date, which is when the company determines which shareholders are eligible to receive the upcoming dividend. To qualify for the dividend, shares of Tourmaline Oil must be purchased before August 9th. The dividend payment will be made on August 21st.

The upcoming dividend is set at CA$0.50 per share. Last year, the total dividends paid amounted to CA$5.20 per share. Based on the current share price of CA$56.90, this results in a trailing yield of 9.1%. For those interested in dividends, understanding the reliability and sustainability of Tourmaline Oil's dividend is crucial.

Dividends are generally paid out of company profits. When a company distributes more than it earns, the risk of a dividend cut increases. Tourmaline Oil has a payout ratio of 27% of its profit, indicating a relatively conservative approach to dividend payments. Additionally, assessing cash flow is important for evaluating dividend sustainability. Tourmaline Oil's dividend payments constitute 32% of its free cash flow, suggesting a manageable and secure payout ratio.

The alignment of Tourmaline Oil's dividend with both profits and cash flow is a positive sign, reflecting a sustainable dividend policy. A lower payout ratio typically provides a greater margin of safety before any potential dividend reductions.

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