HNRC - Houston Natural Resources raises guidance updates on dividend payouts
- Houston Natural Resources ( OTCPK:HNRC ) raised its guidance with an increase in revenues from its portfolio companies.
- HNRC expects FY22 revenue to be $20M and EBITDA to be $10M. For Q3, revenue is projected to be $5M and EBITDA to be $2.5M. And for the nine months through Sep. 30, revenue is projected to be $13M and EBITDA to be $7M.
- The company said it sponsored a $86M NYSE listing of an energy-focused special purpose acquisition corporation in Q1, which will lead to dividend payouts after completion of the business combination and expiry of the lock up period.
- The company is also evaluating sponsoring other energy-focused SPACs, and expects to realize at least $3M on each of its SPAC investments to be added to its 2023 earnings. Shareholders stand a chance to get more than $0.30 per share in annual dividends.
- Additionally, the board approved a transfer of non-energy investments of $53.3M in exchange for 10,661,465 Worldwide Diversified Holdings shares at $5.00 per share.
- Shareholders have approved the transfer and the dividends.
- Source: Press Release
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Houston Natural Resources raises guidance, updates on dividend payouts