Husky Raises Its Dividend, but Stock Looks Fairly Valued
No-moat Husky Energy increased its quarterly dividend by 67% to CAD 0.125 per share. The increase comes less than six months since Husky reinstated its dividend in March. On an annual basis, the dividend approximates a 3.6% yield, which puts Husky on par with industry leaders Suncor and Canadian Natural. More important, the increased dividend signals that the company believes it can generate enough cash flow to continue growth while rewarding shareholders.Husky reported free cash flow of CAD 50...
Husky Energy is engaged in the exploration, development and production of oil and natural gas. Co.'s operations are located in Canada and United States. As of Dec. 31, 2011, Co. had total proved oil and natural gas reserves of 1,172.4 million barrels of oil equivalent (Mmboe) gross (1,010.7 Mmboe net).
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