Tamarack Valley Energy Ltd (TSE:TVE) Increases Dividend to $0.05 Per Share

Tamarack Valley Energy Ltd (TSE:TVE) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.05 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 25.0% increase from Tamarack Valley Energy’s previous quarterly dividend of $0.04.

Tamarack Valley Energy Stock Performance

Shares of TVE stock traded down C$0.27 on Friday, hitting C$13.29. 1,884,468 shares of the stock traded hands, compared to its average volume of 2,056,616. The company has a debt-to-equity ratio of 18.26, a current ratio of 2.30 and a quick ratio of 0.80. The company has a market capitalization of C$6.31 billion, a PE ratio of 189.86 and a beta of 0.26. Tamarack Valley Energy has a 1-year low of C$5.68 and a 1-year high of C$14.11. The company’s fifty day moving average is C$13.26 and its 200 day moving average is C$12.34.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.43 EPS for the quarter. Tamarack Valley Energy had a net margin of 1.50% and a return on equity of 1.34%. The firm had revenue of C$493.95 million during the quarter. On average, equities research analysts predict that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Insider Activity at Tamarack Valley Energy

In other news, Director Shannon Joseph purchased 27,521 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were bought at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the purchase, the director owned 66,376 shares of the company’s stock, valued at C$833,682.56. This trade represents a 70.83% increase in their ownership of the stock. Insiders own 1.32% of the company’s stock.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.