Vermilion Energy (TSE:VET) has released an update.
Vermilion Energy Inc. reports a robust first quarter in 2024 with a fund flow from operations of $431 million and free cash flow of $241 million, alongside a significant reduction in net debt to $944 million, achieving their lowest debt ratio in over a decade. The company increased shareholder returns through dividends and share buybacks, with a 20% dividend hike and aggressive repurchase of 2.4 million shares. Production excelled beyond expectations, particularly in Germany and the United States, and new projects in Germany, Croatia, and Canada are set to contribute to future cash flows.
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