Join our community of smart investors

Gulf Keystone seeks to placate through $50m return

The Kurdistan driller is flashing the cash as oil prices boost cash generation
Gulf Keystone seeks to placate through $50m return
  • Step rise in average production
  • Capex weighted towards the second half

You get the impression that people invest in the oil and gas sector less in expectation of capital appreciation, but more in hope of generous distributions when energy prices are favourable.

So bosses at Gulf Keystone Petroleum (GKP), no doubt mindful of a recent shareholder rebellion, have decided to return another $50m (£36.5m) to the owners of the Kurdistan-based driller. That’s on top of the $25m special dividend dished out to shareholders in August. Analysts at Peel Hunt point to a “sector-leading dividend yield of c.22 per cent”.

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in