2024-04-25 04:57:10 ET
Serica Energy plc (SQZZF)
Q4 2023 Earnings Conference Call
April 24, 2024 09:00 ET
Company Participants
David Latin - Chairman and Interim Chief Executive Officer
Martin Copeland - Chief Financial Officer
Presentation
Operator
Good afternoon, ladies and gentlemen and welcome to the Serica Energy Plc Investor Presentation. [Operator Instructions] Before we begin, I would just like to submit the following poll, and if you’d give that your kind attention, I am sure the company would be most grateful. And I would now like to hand you over to the executive management team from Serica Energy, David, Martin, good afternoon.
David Latin
Good afternoon, everybody and thank you very much, Jake. Good afternoon, everybody. I’m delighted to be here with Martin Copeland, and we’re pleased to be able to present 2023’s results with Serica, and we’ll endeavor to leave some time at the end to answer Q&A after we’ve been through these slides. It will probably take us about 40 minutes to get through the slides.
And before I start, I just want to say a sincere thank you to Mitch Flegg. I know many of you will be familiar with Mitch and maybe watched him do this for a few years now. He has had a very significant impact on Serica. He laid strong foundations for us over the 6 years as CEO, and I’m honored to take over for him in an interim period as the CEO whilst remaining the Chair. Mitch has been instrumental in building a strong company, and 2023 was another very strong year of financial performance for Serica despite low commodity prices in a really challenging fiscal environment. I’m going to just go through to our first slide.
The performance is such that as you probably know by now, we are making a decision to pay a final dividend of 14p a share, which means an increase in the total dividend for 2023 to 23p per share compared with the 22p in respect of 2022. In addition, we are also launching a £15 million buyback of share scheme. This is an indication of the Board’s confidence in 2024 cash flows and the longer-term value of the assets that the company has....
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Serica Energy plc (SQZZF) Q4 2023 Earnings Call Transcript