Paramount Resources Ltd. (OTCMKTS:PRMRF) to Issue Dividend Increase – $0.11 Per Share

Paramount Resources Ltd. (OTCMKTS:PRMRF) announced a dividend on Friday, May 10th, investing.com reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.1094 per share on Friday, May 31st. This represents a dividend yield of 5.51%. The ex-dividend date is Tuesday, May 14th. This is a boost from Paramount Resources’s previous dividend of $0.09.

Paramount Resources Stock Up 0.8 %

Shares of OTCMKTS PRMRF opened at $24.04 on Friday. The firm’s 50-day moving average price is $21.32 and its two-hundred day moving average price is $20.61. Paramount Resources has a 52-week low of $18.19 and a 52-week high of $24.95. The stock has a market capitalization of $3.51 billion, a P/E ratio of 14.14 and a beta of 2.58.

Paramount Resources (OTCMKTS:PRMRF) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.55 earnings per share for the quarter. Paramount Resources had a return on equity of 9.90% and a net margin of 19.75%. The business had revenue of $345.63 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reiterated an “outperform” rating and issued a $37.00 target price on shares of Paramount Resources in a research note on Tuesday, April 9th.

About Paramount Resources

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.