Vermilion Energy (VET.TO, VET) was last seen down 0.7% in after-hours New York trading after the company on Wednesday said its fourth-quarter loss narrowed and raised its dividend 8%.
The company lost $18.3 million, or $0.12 per share, in the period, compared with a loss of $803.1 million, or $4.91, in the year-prior quarter.
Revenue fell to $504.4 million from $523 million in the year-ago quarter.
Due to high gas prices in Europe, Vermilion's average price for natural gas in the fourth quarter was $8.47 per thousand cubic feet, compared to $1.48 per mcf for the Canadian benchmark, the company said.
The company also said it has updated its 2025 capital budget and production guidance to reflect the closing of the Westbrick acquisition. Production is expected to be between 125,000 and 130,000 barrels of oil equivalent per day.
Capital expenditures for exploration and development are forecast to be between $730 million and $760 million. Over 70% of total capital expenditures will focus on Vermilion's global gas operations. Vermilion expects about $400 million in free cash flow for 2025.
The company declared a quarterly cash dividend of $0.13 per common share, an 8% increase over the Q4 dividend. It is payable on April 15 to shareholders of record on March 31.
The company's shares were last seen down US$0.05 to $7.52 after hours. They closed down $0.25 to $10.90 on the Toronto Stock Exchange.
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