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 2021 Senior Note Indenture and the 2023 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
December 14, 2020 December 31, 2020 January 15, 2021 0.052
March 18, 2021 March 31, 2021 April 15, 2021 0.052
June 21, 2021 June 30, 2021 July 15, 2021 0.052
September 16, 2021 September 30, 2021 October 15, 2021 0.052
December 14, 2021 December 30, 2021 January 17, 2022 0.052
March 17, 2022 March 31, 2022 April 19, 2022 0.052
June 20, 2022 June 30, 2022 July 15, 2022 0.052
September 19, 2022  September 30, 2022 October 17, 2022 0.052
December 14, 2022 December 29, 2022 January 16, 2023 0.052
March 16, 2023 March 31, 2023 April 17, 2023 0.26
June 20, 2023 June 30, 2023 July 17, 2023 0.26
September 14, 2023  September 29, 2023 October 16, 2023 0.26

*On January 17, 2023, 170,557,290 Common Shares issued and outstanding were reduced to 34,111,458 Common Shares, this will translate to quarterly cash dividends of CAD $0.26 per share (Post-Consolidation) in comparison to CAD $0.052 (Pre-Consolidation) per share.