14:19:03 EDT Fri 10 May 2024
Enter Symbol
or Name
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CA



Gibson Energy Inc
Symbol GEI
Shares Issued 161,651,571
Close 2023-08-24 C$ 19.64
Market Cap C$ 3,174,836,854
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Globe says Gibson's got a yield that keeps on growing

2023-08-24 08:24 ET - In the News

The Globe and Mail reports in its Thursday edition that income investors want to own stocks that provide a dependable payout. The Globe's regular guest columnist Gordon Pape writes that he believes Gibson Energy will satisfy the income investor. Gibson Energy is a Calgary-based oil infrastructure company. Its principal businesses consist of the storage, optimization, processing and gathering of crude oil and refined products. Gibson is an energy company that has never cut its dividend. In fact, it actually increased it annually from 2020 to this year. The current payment is 39 cents per quarter ($1.56 a year) to yield 7.8 per cent. The Globe reported on Oct. 19, 2021, that Mr. Pape said Gibson Energy was for investors seeking a high-yield security and who are willing to accept above-average risk and are comfortable investing in fossil fuel companies. He said he liked that Gibson Energy came through the 2020 oil crunch and the pandemic feeling confident enough to raise its dividend. The shares could then be had for $23.14. The Globe reported on July 19, 2023, that ATB Capital analyst Nate Heywood had elevated his recommendation for Gibson Energy to "outperform" from "sector perform." It was then worth $20.90.

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