Diversified Gas & Oil lifts dividend on gas view
Diversified Gas & Oil PLC on Monday reported a loss for 2020, but it raised the dividend and said that the outlook for U.S. natural gas is positive.
From the Equity Insider archive. This article dates from Mar 8, 2021 and is preserved as first published.
Diversified Gas & Oil PLC on Monday reported a loss for 2020, but it raised the dividend and said that the outlook for U.S. natural gas is positive.
The U.S.-focused gas producer booked a net loss of $23.5 million last year, swinging from a $99.4 million profit a year earlier.
Performance was hurt by losses of $94.4 million on derivative financial instruments, driven by the improved natural gas pricing outlook.
4 million on derivative financial instruments, driven by the improved natural gas pricing outlook.
Hedged-adjusted Ebitda rose 10% to $300.6 million during the year.
The company declared a final dividend of $0.04 a share, bringing the full-year distribution to $0.1525–up from $0.1392 in 2019.
