Vermilion Energy hikes dividend 8%, posts strong Germany well results
Ticker: VET · Form: 6-K · Filed: 2024-12-19T00:00:00.000Z
Sentiment: bullish
Topics: dividend-increase, operational-results, budget
TL;DR
Vermilion Energy raises dividend 8% and sees good results in Germany.
AI Summary
Vermilion Energy Inc. announced its 2025 budget on December 19, 2024, which includes an 8% increase in its dividend. The company also reported strong well test results from its operations in Germany. This filing is a Report of Foreign Private Issuer.
Why It Matters
The dividend increase signals confidence in future cash flows, while positive well results suggest operational success and potential for increased production.
Risk Assessment
Risk Level: low — This is a routine 6-K filing reporting on budget, dividend, and operational results, with no immediate negative financial implications.
Key Numbers
- 8% — Dividend Increase (Reflects increased shareholder returns and company confidence.)
Key Players & Entities
- Vermilion Energy Inc. (company) — Registrant
- December 19, 2024 (date) — Announcement date
- 8% (dollar_amount) — Dividend increase percentage
- Germany (location) — Operational area
FAQ
What is the new dividend amount per share?
The filing announces an 8% dividend increase but does not specify the new per-share amount.
What are the specific results from the Germany well tests?
The filing mentions strong well test results from Germany but does not provide specific production or flow rate data.
What is Vermilion Energy's 2025 budget projection?
The filing announces the 2025 budget but does not detail its specific figures or allocations.
What is the significance of filing a Form 6-K?
A Form 6-K is a Report of Foreign Private Issuer used to furnish information that the company has made or is required to make public in its home country.
When was Vermilion Energy Inc. formerly known as Vermilion Energy Trust?
The company's name changed from Vermilion Energy Trust on June 7, 2004.
From the Filing
0001279569-24-001495.txt : 20241219 0001279569-24-001495.hdr.sgml : 20241219 20241219071747 ACCESSION NUMBER: 0001279569-24-001495 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20241219 FILED AS OF DATE: 20241219 DATE AS OF CHANGE: 20241219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VERMILION ENERGY INC. CENTRAL INDEX KEY: 0001293135 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: A0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35829 FILM NUMBER: 241560970 BUSINESS ADDRESS: STREET 1: 3500, 520 - 3RD AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0R3 BUSINESS PHONE: 403-269-4884 MAIL ADDRESS: STREET 1: 3500, 520 - 3RD AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0R3 FORMER COMPANY: FORMER CONFORMED NAME: VERMILION ENERGY TRUST DATE OF NAME CHANGE: 20040607 6-K 1 vermilion6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934 For the month of December 2024 Commission File Number: 001-35829 Vermilion Energy Inc. (Exact name of registrant as specified in its charter) 3500, 520 – 3 rd Avenue S.W., Calgary, Alberta T2P 0R3 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☐ Form 40-F ☒ Exhibit Exhibit Description 99.1 News Release dated December 19, 2024 - Vermilion Energy Inc. Announces 2025 Budget, 8% Dividend Increase and Strong Germany Well Test Results SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 	 	 VERMILION ENERGY INC. By: /s/ Lars Glemser Title: Lars Glemser, VP and Chief Financial Officer Date: December 19, 2024 EX-99.1 2 ex991.htm NEWS RELEASE DATED DECEMBER 19, 2024 Exhibit 99.1 Vermilion Energy Inc. Announces 2025 Budget, 8% Dividend Increase and Strong Germany Well Test Results CALGARY, AB, Dec. 19, 2024 /CNW/ - Vermilion Energy Inc. ("Vermilion", or the "Company") (TSX: VET) (NYSE: VET) is pleased to announce its 2025 budget, an 8% dividend increase and strong Germany well test results. Highlights • 2025 capital expenditure budget of $600 - $625 million includes drilling and infrastructure capital allocated across all major business units, including ongoing drilling and debottlenecking on the BC Montney asset and drilling capital allocated to European gas exploration and development in Germany, the Netherlands, and Central and Eastern Europe. • 2025 production guidance of 84,000 - 88,000 boe/d represents 2% growth at the mid-point compared to original 2024 production guidance. • 2025 fund flows from operations ("FFO") (2) and free cash flow ("FCF") (3) forecasted to be approximately $1.0 billion and $400 million, respectively, based on forward commodity prices (4) . • Quarterly cash dividend increased by 8% to $0.13 CDN per share, effective with the Q1 2025 dividend payable on April 15, 2025. • Variable component of shareholder returns will continue to be allocated to share buybacks. To date, Vermilion has repurchased and retired 16.8 million shares since initiating the share buyback program in July 2022, including 9.1 million shares year-to-date in 2024, which has reduced the share count by 4.8% to 154.5 million. • Vermilion continues to provide investors with market and commodity diversification, with over 100 mmcf/d of European natural gas production driving its peer leading netbacks. Based on forward strip pricing (4) , Vermilion's corporate operating netback for 2025 is forecasted at $40 per boe, or over 10%