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LNDNF - Lundin Petroleum: An Emerging Growing Dividend Play
Lundin Petroleum AB
Lundin Petroleum AB (OTCPK:LNDNF) is a Swedish company under the Lundin family umbrella that operates on the Norwegian continental shelf. It is a mid-tier independent oil producer. Lundin production averaged 77.5 Mboe/d and generated US$811.6 million of EBITDA and US$149.7 million of net income out of US$984.0 million revenue in the 1H2019 (Table 1).
Table 1. A summary of Lundin Petroleum's financials in the 1H and 2Q2019. Source.
In this article, I present Lundin as an emerging income play with growing dividends, based on an assessment on whether the dividends are protected