UK's Ithaca Energy rises after lifting annual dividend forecast
19/08/2026 08:14
BUZZ-UK's Ithaca Energy rises after lifting annual dividend forecast
** Shares of UK oil and gas producer Ithaca Energy ITH.L up/down 6.1% at 267p, top gainer on FTSE midcaps index .FTMC
** Raises annual dividend forecast to $500 million to $530 million from $470 million to $520 million, buoyed by robust cash generation and growth in HY production
** Co reports HY total production of 128,000 barrels of oil equivalent per day, up from 124,000 boed a year ago, strengthened by contributions from its Cygnus and Seagull gas fields
** Co says Rosebank development advances towards final execution phase, with first production window narrowed to H1 2027 from previous 2026-2027 guidance, with ramp-up to plateau through summer 2027
** As of last close, stock up 51.8% YTD
(Reporting by Anushka Chourasia in Bengaluru)