21:57:39 EDT Thu 18 Apr 2024
Enter Symbol
or Name
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CA



Husky Energy Inc
Symbol HSE
Shares Issued 984,328,915
Close 2015-11-24 C$ 18.62
Market Cap C$ 18,328,204,397
Recent Sedar Documents

FP says Citibank pans Husky's 30-cent dividend

2015-11-25 09:05 ET - In the News

The Financial Post reports in its Wednesday edition that Citibank says Husky Energy may struggle to pay its dividend in the current oil price environment and should sell assets to ease the burden of its balance sheet. An unbylined item in the National Report column reports that Husky posted a $4.1-billion (Canadian) net loss in the third quarter and said it would pay its January, 2016, dividend of 30 Canadian cents in common shares rather than cash, unlike other peers who cut their dividends. Citibank says, "We do not believe HSE can continue paying cash dividends of 30 [Canadian] cents a share at strip prices or our base case of WTI $65 (U.S.) per barrel, which raises the question as to why the company didn't just reduce dividends." Citibank notes that the company's sustainable dividend is nine Canadian cents per share. Husky shares gained 29 Canadian cents to close in Toronto Tuesday at $18.62 (Canadian). The Post's Yaddulah Hussain said on Feb. 10 the outlook for oil producers such as Husky and its rivals was bleak. Husky shares could then be had for $28.31 (Canadian). TD economist Dina Ignjatovic was bearish on oil producers like Husky in the Post on June 23. Husky was then worth $23.89 (Canadian).

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