Dividends

During the year ended December 31, 2019, the Corporation announced that it would start a regular recurring quarterly dividend. Canacol’s general practice will be to pay quarterly cash dividends on the Common Shares from its distributable cash flow to Shareholders of record as of the dividend record date, which will generally be 15 days prior to the dividend payment date.

Canacol’s dividend policy is intended to provide Shareholders with relatively stable and predictable quarterly dividends, while retaining a portion of cash flow to fund maintenance capital and ongoing growth projects. The amount of dividends to be paid on the Common Shares, if any, is subject to the discretion of the Board of Directors and may vary depending on a variety of factors. 

In addition to the standard legislated solvency and liquidity tests that must be met, Canacol’s ability to declare and pay dividends is also dependent on its compliance with the covenants under the 2018 Senior Note Indenture and the 2018 Credit Facility.

Declaration Date
Record Date
Payment Date
Cents Per Share (CAD$)
December 5, 2019
December 16, 2019
December 30, 2019
0.052
March 19, 2020
March 31, 2020
April 15, 2020
0.052
June 18, 2020
June 30, 2020
July 15, 2020
0.052
September 18, 2020
September 30, 2020
October 15, 2020
0.052