Tourmaline Oil Corp. (OTCMKTS:TRMLF) Announces Dividend of $0.36

Key Points

• Tourmaline Oil Corp. announced a dividend increase to $0.36 per share, which is a 42.9% rise from its previous dividend of $0.25.
• The dividend yield for this payout is a remarkable 344.0%, with the record date set for September 16th and payment scheduled for September 29th.
• In its latest earnings report, Tourmaline Oil achieved $0.98 earnings per share, exceeding the consensus estimate by $0.32.

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) announced a dividend on Thursday, September 11th, investing.com reports. Investors of record on Tuesday, September 16th will be paid a dividend of 0.362 per share on Monday, September 29th. This represents a yield of 344.0%. The ex-dividend date of this dividend is Monday, September 15th. This is a 42.9% increase from Tourmaline Oil's previous dividend of $0.25.

Tourmaline Oil Price Performance

Shares of TRMLF traded up $1.86 during midday trading on Tuesday, hitting $44.85. 30,989 shares of the company traded hands, compared to its average volume of 82,256. Tourmaline Oil has a one year low of $38.85 and a one year high of $50.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $17.35 billion, a P/E ratio of 15.57, a PEG ratio of 0.62 and a beta of -0.33. The stock has a 50-day moving average of $43.14 and a 200-day moving average of $44.95.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.32. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.84 billion. Tourmaline Oil had a return on equity of 9.90% and a net margin of 23.53%. As a group, sell-side analysts predict that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.