Energeticcity is the voice of the Peace. But we need your help. Give $10 a month today and be the reason we can cover the next story!
CALGARY — Bonterra Energy Corp. is suspending its dividend in the face of the volatility and weakness in global energy markets.
The company says its focus remains on protecting the balance sheet, preserving the inherent value of its assets and retaining financial flexibility.
Bonterra has been paying a monthly dividend of a penny per share.
The decision came as Bonterra reported a profit of $21.9 million or 66 cents per share for 2019 compared with a profit of $7.2 million or 22 cents per share in 2018.
Revenue totalled $202.7 million last year compared with $223.4 million in 2018.
Production amounted to 12,305 barrels of oil equivalent per day for the year, down from 13,206 in the same period a year earlier.
This report by The Canadian Press was first published March 11, 2020.
Companies in this story: (TSX:BNE)
The Canadian Press
Thanks for Reading!
Energeticcity.ca is the voice of the Peace, bringing issues that matter to the forefront with independent journalism. Our job is to share the unique values of the Peace region with the rest of B.C. and make sure those in power hear us. From your kids’ lemonade stand to natural resource projects, we cover it–but we need your support.
Give $10 a month to Energeticcity.ca today and be the reason we can cover the next story.
