MEG Energy Corp. (TSE:MEG) Raises Dividend to $0.11 Per Share

Key Points

• MEG Energy Corp. announced a quarterly dividend increase to $0.11 per share, representing a 10.0% increase from the previous dividend of $0.10.
• Investors of record on September 12th will receive this dividend on October 15th, resulting in an annualized dividend yield of 1.6%.
• Despite the positive dividend news, shares of MEG Energy traded down 0.9% to C$27.31, with recent trading volumes below the average.

MEG Energy Corp. (TSE:MEG - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Friday, September 12th will be paid a dividend of 0.11 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. This is a 10.0% increase from MEG Energy's previous quarterly dividend of $0.10.

MEG Energy Trading Down 0.9%

Shares of MEG Energy stock traded down C$0.26 during trading on Thursday, reaching C$27.31. 632,467 shares of the company were exchanged, compared to its average volume of 2,040,762. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. MEG Energy has a twelve month low of C$17.00 and a twelve month high of C$28.75. The business has a 50-day moving average price of C$25.91 and a 200-day moving average price of C$23.71. The firm has a market capitalization of C$7.08 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 0.17 and a beta of 2.89.

MEG Energy Company Profile

MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.

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