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Hemisphere Energy Declares Quarterly Dividend, Announces 2026 First Quarter Results and Provides Guidance Update
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Hemisphere Energy Corporation (TSX...
About this update from Hemisphere Energy Corp
[{"type":"text","content":"Hemisphere Energy Declares Quarterly Dividend, Announces 2026 First Quarter Results and Provides Guidance UpdateVancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (\"Hemisphere\" or the \"Company\") declares a quarterly payment to shareholders, announces its financial and operating results for the first quarter ended March 31, 2026, and provides guidance update.Quarterly DividendHemisphere is pleased to announce that its Board of Directors has approved a quarterly cash dividend of $0.025 per common share in accordance with the Company's dividend policy. The dividend will be paid on June 26, 2026 to shareholders of record as of the close of business on June 12, 2026. The dividend is designated as an eligible dividend for income tax purposes.Including two special dividends of $0.03 per common share paid in April and May and quarterly base dividends of $0.025 per common share paid in February and June, Hemisphere will have paid total dividends of $0.11 per common share in the first half of 2026.Q1 2026 HighlightsAttained quarterly production of 3,811 boe/d (99% heavy oil).Generated $25.4 million in revenue.Achieved total operating and transportation costs of $14.76/boe.Delivered an operating netback1 of $16.7 million, or $48.60/boe.Realized quarterly adjusted funds flow from operations (\"AFF\")1 of $12.7 million, or $0.13 per share.Generated free funds flow1 of $9.6 million, or $0.10 per share.Distributed $2.4 million in quarterly base dividends to shareholders during the quarter.Purchased and cancelled 457,600 shares for $1.0 million under the Company's Normal Course Issuer Bid (\"NCIB\") at an average price of $2.13 per share.Exited the first quarter with no bank debt and positive working capital1 of $13.9 million.Minimal hedging preserved exposure to significantly higher commodity prices that started in March.(1) Operating netback, adjusted funds flow from operations (AFF), free funds flow, and working capital are non-IFRS measures, or when expressed on a per share or boe basis, non-IFRS ratio, that do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities. Non-IFRS financial measures and ratios are not standardized financial measures under IFRS and may not be comparable to similar ...