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Birchcliff Energy Reports Lower AFO, Higher Revenue for Second Quarter; Dividend Declared

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Birchcliff Energy (BIR.TO) after trade Wednesday reported a second-quarter adjusted funds flow of C$0.34 per share, down from C$0.35 a year ago.

Net income per share stood at C$0.05, compared with a net loss per share of C$0.05 in the year-ago quarter.

Analysts polled by FactSet expected earnings per share of C$0.08.

Petroleum and natural gas revenue for the quarter ended June 30 was C$177.5 million, up from C$168.5 million a year earlier.

Analysts polled by FactSet expected sales of C$173.1 million.

The company said its board declared a quarterly cash dividend of $0.03 per common share, payable on Sept. 29 to shareholders of record at the close of business on Sept. 15.

Birchcliff shares closed down C$0.03 to C$6.38 on the Toronto Stock Exchange.

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