Tourmaline Oil Corp. (TSE:TOU) Raises Dividend to $0.50 Per Share

Key Points

• Tourmaline Oil Corp. announced a quarterly dividend increase to $0.50 per share, representing a 42.9% increase from the previous dividend of $0.35.
• Shareholders of record on September 15th will receive the dividend payment on September 29th, reflecting an annualized yield of 3.4%.
• The company has seen insider purchases totaling over $1.5 million in the last quarter, indicating confidence in the stock's performance.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) declared a quarterly dividend on Monday, September 15th, RTT News reports. Stockholders of record on Monday, September 15th will be paid a dividend of 0.50 per share on Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 15th. This is a 42.9% increase from Tourmaline Oil's previous quarterly dividend of $0.35.

Tourmaline Oil Stock Down 1.1%

Shares of TSE:TOU traded down C$0.63 during trading on Friday, hitting C$57.99. The stock had a trading volume of 1,717,620 shares, compared to its average volume of 2,289,933. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. The company has a market capitalization of C$22.43 billion, a PE ratio of 14.43, a PEG ratio of 1.72 and a beta of 0.40. The firm's fifty day moving average is C$60.06 and its 200 day moving average is C$62.86. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of C$58.36 per share, with a total value of C$291,793.00. Over the last three months, insiders purchased 25,305 shares of company stock worth $1,595,906. 5.13% of the stock is owned by company insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.