CALGARY — Crescent Point Energy Corp. is raising its quarterly dividend again.

The company says it will now make a base quarterly payment to shareholders of eight cents per share.

The new dividend will be paid on Oct. 3 to shareholders of record on Sept. 15.

In May, Crescent Point raised its quarterly dividend to 6.5 cents per share from 4.5 cents.

Crescent Point CEO Craig Bryksa says that through continued execution and capital discipline the company achieved its near-term net debt target ahead of its expected timeline allowing it to further increase its base dividend.

The company says that beginning in third quarter it will target the return of up to 50 per cent of its discretionary excess cash flow to shareholders.

This report by The Canadian Press was first published July 7, 2022.

Companies in this story: (TSX:CPG)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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