Support Fort St John News

CALGARY — Vermilion Energy Inc. raised its dividend by 25 per cent as it announced a $570 million capital budget for 2023.

The company says it will now pay a quarterly dividend of 10 cents per share, up from eight cents per share, and resume share buybacks.

Vermilion says its capital spending plan includes $340 million in North America, a level similar to 2022, and $230 million for its international assets, an increase of seven per cent compared with last year.

The company also offered production guidance for the year of 87,000 to 91,000 barrels of oil equivalent per day.

The forecast represents a year-over-year increase of about three per cent at the midpoint. 

The company says the production guidance assumes a March 31 closing of its Corrib acquisition, as well as the optimization of its Montney development.

This report by The Canadian Press was first published Jan. 6, 2023.

Companies in this story: (TSX:VET)

The Canadian Press

Report an error

Read our guiding principles

Thanks for reading! 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 today and be the reason we can cover the next story. 

More stories you might like

Avatar photo

The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms. subscribes to Canadian Press articles about British Columbia news and Energy news.