Mining & Metals
Topaz Energy Posts Higher Revenue; Adjusted Profit; Quarterly Dividend Raised
Topaz Energy (TPZ.TO) after trade Tuesday said its first-quarter revenue and adjusted profit rose slightly year-over-year and approved a quarterly dividend increase.The oil and gas royalty and infrastructure company posted an adjusted profit, excluding most one-time items, of $38.2 million, or $0.25 per share, in the period, up from $38 million, or $0.25, a year ago. FactSet expected earnings per share of $0.32.Revenue rose $94.6 million from $92.2 million in the year-prior quarter. FactSet projected $93 million."Topaz reconfirms the previously announced range of annual average royalty production and processing revenue and other income, however, does expect that annual average royalty production will track at the upper end of the range, driven by strong oil-focused activity while allowing for prudent natural gas-focused capital discipline," the company said.The company added that it expects its 2026 exit net debt to be $407 million, excluding any new acquisitions, and plans to keep its payout ratio toward the low end of its 60% to 90% target range.The board increased the quarterly dividend to $0.35 per share from $0.34 per share. It is payable on June 30 to shareholders on record as of June 15.
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