Brief: Cardinal Energy To Increase Monthly Dividend By 50 Pct To $0.015 Per Month

Cardinal Energy (Alberta)

12/04/2019 13:03

April 12 (Reuters) - Cardinal Energy Ltd  CJ.TO :
    * CARDINAL ENERGY LTD. ANNOUNCES BUDGET UPDATE AND INCREASE
TO
MONTHLY DIVIDEND
    * CARDINAL ENERGY LTD - TO INCREASE MONTHLY DIVIDEND BY 50%
TO
$0.015 PER MONTH ($0.18 PER YEAR)
    * CARDINAL ENERGY LTD - FORECASTING AN INCREASE OF
APPROXIMATELY
20% IN ADJUSTED FUNDS FLOW TO $110 TO $120 MILLION FOR 2019.
    * CARDINAL ENERGY LTD -  TARGETING $5 TO $10 MILLION OF
ADDITIONAL
DEBT REPAYMENT RESULTING IN A $30 TO $35 MILLION NET DEBT
REDUCTION IN 2019
    * CARDINAL ENERGY LTD - EXPECT TO ASSESS DIVIDEND RATE AGAIN
IN
2020

Source text for Eikon:  ID:nGNX9YPhRQ 
Further company coverage:  CJ.TO 

 ((Reuters.Briefs@thomsonreuters.com;))