6th Dec 2023 11:15
Pharos Energy PLC - London-based oil and gas exploration and production company, with assets in Vietnam and Egypt - Declares 0.33 pence per share interim dividend for 2023, despite not proposing one when announcing its half year results in mid-September. The dividend amounts to a total payout of approximately USD1.8 million.
Pharos also says it expects to complete the first extension of its share buyback programme around the end of this year. The buyback was launched in July 2022 to return USD3 million to shareholders, before Pharos committed a further USD3 million to the extension in January. The company intends to repurchase further shares worth another USD3 million in 2024. Has repurchased 19.8 million shares under the programme at an average of 23.7 pence each as of close on Tuesday.
Current stock price: 20.80 pence, down 4.4% in London on Wednesday
12-month change: down 20%
By Emma Curzon, Alliance News reporter
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