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Paramount Resources ( (TSE:POU) ) just unveiled an announcement.
Paramount Resources Ltd. has successfully closed a significant asset sale to Ovintiv Inc., receiving approximately $3.3 billion in proceeds. Following this transaction, the company declared a special cash distribution of $15.00 per common share, signaling a strong return to shareholders. Additionally, Paramount has secured an amended $500 million credit facility, updated its operational and development plans for 2025, and revised its monthly dividend to $0.05 per share. These strategic decisions are likely to strengthen the company’s financial positioning and enhance shareholder value.
More about Paramount Resources
Paramount Resources Ltd. operates in the energy industry, focusing on oil and gas exploration and production. The company is based in Calgary, Alberta, and is listed on the Toronto Stock Exchange under the symbol POU.
YTD Price Performance: -6.90%
Average Trading Volume: 54,939
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.99B
For an in-depth examination of POU stock, go to TipRanks’ Stock Analysis page.
