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The latest announcement is out from Paramount Resources ( (TSE:POU) ).
Paramount Resources Ltd. announced that its shareholders have approved a special resolution for a reduction in the stated capital of its class A common shares. This move allows the company to proceed with a special cash distribution of $15.00 per share, contingent on the completion of an asset sale to Ovintiv Inc. The distribution will include a $12.00 return of capital and a $3.00 special dividend, designated as an eligible dividend for Canadian tax purposes. The transaction has received approval under the Investment Canada Act, and the company plans to finalize it soon, after which the Board of Directors will declare the special distribution.
More about Paramount Resources
Paramount Resources Ltd. is an independent, publicly traded Canadian energy company focused on liquids-rich natural gas exploration and development. The company operates primarily in Alberta and British Columbia, exploring both conventional and unconventional petroleum and natural gas resources. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol ‘POU’.
YTD Price Performance: -9.13%
Average Trading Volume: 51,052
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $2.94B
See more data about POU stock on TipRanks’ Stock Analysis page.
