Meren Energy Inc. (OTCMKTS:AOIFF) Declares Dividend Increase - $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. Investors 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 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 Stock Up 1.0%

Shares of OTCMKTS:AOIFF traded up $0.0130 during trading hours on Thursday, hitting $1.2540. The company's stock had a trading volume of 12,909 shares, compared to its average volume of 147,524. The firm's fifty day moving average price is $1.26 and its 200 day moving average price is $1.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 1.16. Meren Energy has a 52 week low of $1.13 and a 52 week high of $1.59. The company has a market capitalization of $847.09 million, a price-to-earnings ratio of -2.41 and a beta of 0.57.

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.