Meren Energy Inc. (OTCMKTS:AOIFF) Increases Dividend to $0.04 Per Share

Key Points

• Meren Energy Inc. has increased its dividend to $0.04 per share, representing a substantial 48.4% increase from the previous dividend of $0.03.
• The new dividend yields an impressive 1,200.0%, with the ex-dividend date set for August 20th and the payment date on September 5th.
• Meren Energy reported earnings of $0.02 per share for its last quarter, exceeding the consensus estimate, with revenue of $74.09 million against an expected $10.00 million.

Meren Energy Inc. (OTCMKTS:AOIFF - Get Free Report) announced a dividend on Saturday, August 16th, investing.com reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 0.0371 per share by the energy company on Friday, September 5th. This represents a dividend yield of 1,200.0%. The ex-dividend date is Wednesday, August 20th. This is a 48.4% increase from Meren Energy's previous dividend of $0.03.

Meren Energy Price Performance

Meren Energy stock opened at $1.24 on Friday. The company has a market cap of $835.27 million, a P/E ratio of -2.38 and a beta of 0.57. Meren Energy has a one year low of $1.13 and a one year high of $1.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.33. The business has a fifty day moving average of $1.26 and a two-hundred day moving average of $1.31.

Meren Energy (OTCMKTS:AOIFF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The energy company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $74.09 million for the quarter, compared to the consensus estimate of $10.00 million. As a group, analysts predict that Meren Energy will post 0.18 earnings per share for the current fiscal year.

Meren Energy Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone.

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