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Benzinga
Benzinga
Business
Akanksha Bakshi

i3 Energy Hikes Dividend By 25%

ITE TSX
  • i3 Energy PLC (TSX:ITE) (OTC:ITEEF) increased the minimum dividend to be paid in 2022 by 25%, from £11.827 million to £14.784 million, to be implemented by increasing the monthly dividend.
  • The company stated that the increase reflects the solid performance of its production assets, positive results from the initial phase of its 2022 development drilling program, continuing commodity price strength, and the consequent positive impact on cash flow projections.
  • i3 declared its June 2022 dividend totaling £1.6052 million. The monthly dividend amounts to 0.1425 pence/share, payable on June 10, 2022, to shareholders of record on May 20, 2022.
  • Price Action: ITE shares are trading higher by 7.23% at C$0.45 on TSX, and ITEEF is higher by 11.15% at $0.36 on the last check Wednesday.
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