CPG - Crescent Point Energy raises dividend by 50% to $0.045 announces $100M buyback

Crescent Point Energy (NYSE:CPG) declares CAD 0.045/share quarterly dividend, 50% increase from prior dividend of CAD 0.030. Forward yield 3.17% Payable April 1; for shareholders of record March 15; ex-div March 14. The new dividend level equates to a payout ratio of approximately seven percent of Crescent Point's expected 2022 adjusted funds flow at US$50/bbl WTI.  Additionally, the company plans to allocate up to $100M to share repurchases over the following six months, representing over three percent of the Company's current market capitalization, are expected to be partially completed under existing normal course issuer bid which expires in March 2022. The Company plans to renew its NCIB with the Toronto Stock Exchange in first quarter 2022. See CPG Dividend Scorecard, Yield Chart, & Dividend Growth.

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Crescent Point Energy raises dividend by 50% to $0.045, announces $100M buyback