Vermilion Energy raises dividend, plans $600M-$625M capital spending for 2025

Dec 22, 2024

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Panther Drilling Rig 3, working for Vermilion in southeast Saskatchewan on June 18, 2023. Photo by Brian Zinchuk

CALGARY — Vermilion Energy Inc. raised its dividend as it outlined a capital spending plan of $600 million to $625 million for 2025.

The company says it will pay a quarterly dividend of 13 cents per share, up a penny from 12 cents per share.

Vermilion says its capital budget includes drilling and infrastructure across its business.

The plan will see ongoing drilling and debottlenecking in the B.C. Montney region and European gas exploration and development in Germany, the Netherlands, and central and eastern Europe.

Production for 2025 is expected between 84,000 and 88,000 barrels of oil equivalent per day.

The outlook represents an increase of two per cent based on the midpoint compared with its original production guidance for 2024.

This report by The Canadian Press was first published Dec. 19, 2024.

Companies in this story: (TSX:VET)

The Canadian Press

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