Paramount Resources reports $68.1M Q1 profit, raises monthly dividend 20%
Paramount Resources Ltd. raised its dividend by 20 per cent as it reported a first-quarter profit of $68.1 million.
The oil and gas producer says it will now pay a monthly dividend of 15 cents per share, up from 12.5 cents per share.
The increase came as Paramount says its first-quarter profit amounted to 46 cents per diluted share for the quarter ended March 31 down from a profit of $197.0 million or $1.33 per diluted share a year earlier.
Petroleum and natural gas sales totalled $452.3 million, down from $489.7 million in the first quarter of 2023.
Sales volumes in the quarter totalled 100,977 barrels of oil equivalent per day, up from 97,269 in the same quarter last year.
On an adjusted basis, Paramount says its funds flow amounted to $1.52 per diluted share in its latest quarter, down from $1.81 per diluted share a year earlier.
This report by The Canadian Press was first published May 2, 2024.
CTVNews.ca Top Stories
Blaine Higgs 'furious' over sexual education presentation
New Brunswick Premier Blaine Higgs has shared his anger on social media over a presentation in at least four high schools.
This type of screen time has the worst effect on kids: experts
According to some experts, there is one type of screen time that is continuously excessive, and it's having a severe effect on our children.
Grayson Murray's parents say the two-time PGA Tour winner died of suicide
Grayson Murray's parents said Sunday their 30-year-old son took his own life, just one day after he withdrew from a PGA Tour event.
Some birds may use 'mental time travel,' study finds
Real quick — what did you have for lunch yesterday? Were you with anyone? Where were you? Can you picture the scene? The ability to remember things that happened to you in the past, especially to go back and recall little incidental details, is a hallmark of what psychologists call episodic memory — and new research indicates that it’s an ability humans may share with birds called Eurasian jays.
Trump confronts repeated boos during raucous Libertarian convention speech
Donald Trump was booed repeatedly while addressing Saturday night’s Libertarian Party National Convention.
Driver, 18, gets $3,000 ticket, 32 demerit points after speeding on Laval boulevard
A young driver received a hefty fine from Laval police after they say he was driving nearly 100 km/h over the posted speed limit.
Indianapolis 500 delayed as strong storm forces fans to evacuate Indianapolis Motor Speedway
The start of the Indianapolis 500 was delayed as a strong storm pushed through the area Sunday, forcing Indianapolis Motor Speedway officials to evacuate about 125,000 fans who had already arrived for "The Greatest Spectacle in Racing."
Hamas rocket attack from Gaza sets off air raid sirens in Tel Aviv for the first time in months
Hamas fired a barrage of rockets from Gaza that set off air raid sirens as far away as Tel Aviv for the first time in months on Sunday in a show of resilience more than seven months into Israel's massive air, sea and ground offensive.
At least 13 dead in Texas, Oklahoma and Arkansas after severe weather roars across region
Powerful storms killed at least 13 people and left a wide trail of destruction Sunday across Texas, Oklahoma and Arkansas after obliterating homes and destroying a truck stop where dozens sought shelter in a restroom during the latest deadly weather to strike the central U.S.