The Wentworth Resources Ltd.Directors have proposed a final dividend of 1.16 pence per ordinary share be paid, subject to shareholder approval at the Company's Annual General Meeting, to the holders of the ordinary shares who are on the register of members of the Company at 6.00 p.m. on 1 July 2022. The proposed final dividend will bring distributions to shareholders with regard to the financial year ended 31 December 2021 to $4 million, in line with the Company's stated commitment to a sustainable and progressive dividend policy.
Other financial highlights include:
Another year of consistent operational and financial performance with record production in Q1 2022
Declaring ($2.7 million); a total dividend distribution in respect of 2021 of 1.73 pence per share ($4.0 million) representing a yield of approximately 8.0% (calculated on an annualised basis), an increase from 2020 total distributions of $3.8 million
Share buyback programme to support capital return philosophy initiated in December 2021 and c. $2.6 million returned to date
Revenues increased by 26% to $23.8 million (2020: $18.9 million), underpinned by long-term fixed gas price contracts and strong production
Adjusted EBITDAX increased by 40% to $13.6 million (2020: $9.6 million)
Net profit increased by 79% to $6.1 million (2020: $3.4 million)
Increasingly robust balance sheet, remaining debt free with a cash balance of $22.8 million (2020: $17.8 million)
