Karoon Energy Ltd (AU:KAR) has released an update.
Karoon Energy Ltd has unveiled a new capital allocation strategy, promising shareholders a return of 20-40% of net profits through dividends and share buybacks, based on a strong operational foundation and diversified production base. The company announces a US$25 million on-market share buyback program to deliver additional shareholder value, with the buyback to be conducted by the end of 2024. Karoon’s commitment to a balance of rewarding shareholders while maintaining a robust balance sheet highlights a strategic move following significant growth and asset diversification.
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