Business

Vermilion Energy Inc. Announces 2024 Budget, Updated Return of Capital Framework and 20% Dividend Increase

Vermilion Energy Inc. Announces 2024 Budget, Updated Return of Capital Framework and 20% Dividend...

articleVermilion Energy Inc.December 12, 20234/company/vermilion-energy-inc/news/vermilion-energy-inc-announces-2024-budget-updated-return-of-capital-framework-and-20percent-dividend-increase
Vermilion Energy Inc. Announces 2024 Budget, Updated Return of Capital Framework and 20% Dividend Increase

About this update from Vermilion Energy Inc.

[{"type":"text","content":"\n \n \n \n Vermilion Energy Inc. Announces 2024 Budget, Updated Return of Capital Framework and 20% Dividend Increase\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen5{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen6{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnbbbs{\nBORDER-BOTTOM:black 0.5pt solid\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Dec. 12, 2023\n \n \n /CNW/ - Vermilion Energy Inc. (\"Vermilion\", \"We\", \"Our\", \"Us\" or the \"Company\") (TSX: VET) (NYSE: VET) is pleased to announce its 2024 budget and updated return of capital framework, including a 20% dividend increase.\n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n 2024 fund flows from operations (\"FFO\")\n \n (1)\n \n and free cash flow (\"FCF\")\n \n (2)\n \n are forecasted to be approximately\n \n $1.3 billion\n \n and\n \n $700 million\n \n , respectively, based on forward commodity prices\n \n (3)\n \n ; FCF represents an approximately 40% increase versus our 2023 forecast.\n \n \n 2024 capital expenditure budget of\n \n $600\n \n –\n \n $625 million\n \n includes increased investment in our BC Montney asset and advancement of key growth projects in\n \n Germany\n \n and\n \n Croatia\n \n .\n \n \n 202...

More updates from Vermilion Energy Inc.