Vermilion Energy selling U.S. assets for $120 million in cash
CALGARY - Vermilion Energy Inc. has signed an agreement to sell its assets in the U.S. for $120 million in cash.
The company says the deal includes about 5,500 barrels of oil equivalent per day of production and about 10 million barrels of oil equivalent of proved developed producing reserves.
Vermilion says net proceeds from the sale will be used to repay debt.
The deal has an effective date of Jan. 1 and is expected to close in the third quarter.
The company also updated its 2025 capital budget to a range of $630 million to $660 million, a reduction of about $100 million from the midpoint of its previous guidance for $730 million to $760 million.
Vermilion expects full year and second half 2025 production to range between 117,000 to 122,000 barrels of oil equivalent per day.
This report by The Canadian Press was first published June 5, 2025.
Companies in this story: (TSX:VET)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
A $7,000 TFSA Strategy That Focuses on Dividend Growth
Written by Andrew Walker at The Motley Fool Canada Retirees and other dividend investors are searching for ways to get better returns on savings held inside a self-directed Tax-Free Savings Account (TFSA). One popular investing strategy involves buying good dividend-growth stocks that can provide income and boost long-term gains. The TFSA limit in 2025 is $7,000. All interest, dividends, and capital gains generated inside a TFSA on qualifying investments are tax-free. This means the full value of the earnings can go right into your pocket without having to share some with the CRA. The gains can also be fully reinvested, if passive income isn't the core goal. Retirees who receive Old Age Security (OAS) get another benefit. The CRA does not count TFSA income when calculating net world income used to determine the Old Age Security (OAS) pension recovery tax. This is important for seniors with high incomes. Every dollar of net world income earned above a minimum threshold triggers a $0.15 pension recovery tax. The number to watch in the 2025 tax year is $93,454. As such, retirees should consider fully using TFSA contribution space before holding income-generating investments inside taxable accounts. Younger investors can use dividend stocks to build retirement savings inside a TFSA. One strategy involves owning dividend-growth stocks and reinvesting the distributions in new shares. This sets off a powerful compounding process that can turn modest initial investments into meaningful savings over time, especially when dividends increase and the share price drifts higher. Fortis (TSX:FTS) is a good example of a stock with a great track record of dividend growth. The company has raised the payout in each of the past 51 years. Fortis operates utility businesses in Canada, the United States, and the Caribbean. The company has $75 billion in assets, including natural gas utilities, power generation facilities, and electric transmission networks. Nearly all of the revenue comes from rate-regulated businesses. This means cash flow is normally predictable and reliable. Fortis is working on a $26 billion capital program that will raise the rate base from $39 billion in 2024 to $53 billion in 2029. Revenue and earnings growth from the new assets should support planned annual dividend increases of 4% to 6% over the next five years. New projects are under consideration that could get added to the backlog. This would potentially extend the dividend-growth guidance or boost the size of the increases. Fortis has a dividend reinvestment plan that gives investors a 2% discount on stock purchased using dividend distributions. On the risk side, Fortis is sensitive to changes in interest rates due to the large amount of debt it uses to fund part of the capital program. The stock fell when the central banks in Canada and the United States raised rates in 2022. Rate cuts last year spurred the rebound. Analysts broadly expect interest rates to continue to decline later this year, as long as there isn't a spike in inflation caused by tariffs. Buying Fortis on pullbacks has historically proven to be a savvy move for patient investors. The TSX is home to many good dividend-growth stocks that investors can own to generate income and long-term total returns inside a self-directed TFSA. Fortis still deserves to be on your radar, even after the nice rally in the past year. The post A $7,000 TFSA Strategy That Focuses on Dividend Growth appeared first on The Motley Fool Canada. Before you buy stock in Fortis, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Fortis wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube The Motley Fool recommends Fortis. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
11.5% Yield! I'm Buying This Dividend Stock and Holding for Decades
Written by Amy Legate-Wolfe at The Motley Fool Canada In a market where many investors are chasing the next big tech stock, there's something comforting about a steady, reliable dividend payer. Allied Properties Real Estate Investment Trust (TSX: fits that bill, offering a substantial yield and a focus on Canada's urban workspaces. So let's dig into this analyst-loving dividend stock. Allied specializes in owning and operating distinctive urban office properties in major Canadian cities like Toronto, Montreal, and Vancouver. Its portfolio includes a mix of heritage and modern buildings, catering to knowledge-based organizations seeking creative and collaborative environments. This niche focus has allowed Allied to carve out a unique position in the Canadian real estate landscape. As of the end of the first quarter of 2025, Allied's portfolio comprised 171 income-producing properties, encompassing approximately 15.8 million square feet of gross leasable area. The REIT reported a leased area of 86.9% and an occupied area of 85.9%, reflecting stable demand for its urban workspace offerings. The average in-place net rent per occupied square foot stood at $25.30, up 5% from the same period in the previous year. Financially, Allied reported rental revenue of $150.6 million for Q1 2025, a 4.9% increase compared to Q1 2024. However, the dividend stock also recorded a net loss and comprehensive loss of $107.7 million for the quarter, primarily due to a fair value loss on investment properties and investment properties held for sale amounting to $164.1 million. Despite the net loss, Allied's funds from operations (FFO) for the quarter were $71.1 million, translating to $0.509 per unit on a diluted basis. Adjusted funds from operations (AFFO) stood at $64.8 million, or $0.464 per unit. The AFFO payout ratio was 97%, indicating that the REIT is distributing nearly all of its adjusted funds from operations to unit holders. Allied has been proactive in managing its portfolio and balance sheet. In 2024, the REIT acquired three triple-A urban properties: 400 West Georgia in Vancouver, 19 Duncan in Toronto, and Calgary House in Calgary. To fund these acquisitions and maintain a healthy balance sheet, Allied sold seven non-core properties for $229 million in 2024 and plans to sell additional non-core properties for at least $300 million in 2025. The REIT also completed $850 million in replacement debt financing in Q1 2025, including a $450 million green bond offering and a $400 million dual-tranche offering of debentures. These financings were used to refinance all debt maturing in 2025, except for construction financing on a Vancouver property. As a result, Allied's total debt ratio stood at 42.9%, and net debt as a multiple of annualized adjusted EBITDA was 11.6 times at the end of Q1 2025. Looking ahead, Allied aims to increase its occupied and leased area to at least 90% by the end of 2025. The REIT also expects to achieve growth in same asset net operating income (NOI) of approximately 2% for the year. However, management anticipates a contraction in FFO and AFFO per unit by approximately 4% in 2025, primarily due to higher overall interest costs stemming from the 2024 acquisitions. Yet even during this period, investors can still look forward to a whopping 11.5% dividend yield. In fact, here is what a $10,000 investment would look like on the TSX today. COMPANY RECENT PRICE NUMBER OF SHARES DIVIDEND TOTAL PAYOUT FREQUENCY INVESTMENT TOTAL $15.50 645 $1.80 $1,161.00 Monthly $9,997.50 That adds up to $96.75 dished out monthly! Therefore, Allied Properties REIT offers a compelling investment opportunity for those looking to add a high-yielding, urban-focused real estate asset to their portfolio. With a current yield of approximately 11.5% and a strategic focus on Canada's major cities, Allied presents a blend of income and growth potential that could appeal to long-term investors. The post 11.5% Yield! I'm Buying This Dividend Stock and Holding for Decades appeared first on The Motley Fool Canada. Before you buy stock in Allied Properties Real Estate Investment Trust, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Allied Properties Real Estate Investment Trust wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025
Yahoo
an hour ago
- Yahoo
Koryx Copper Announces Filing of its Annual Information Form
VANCOUVER, British Columbia, June 06, 2025 (GLOBE NEWSWIRE) -- Koryx Copper Inc. ('Koryx' or the "Company") (TSX-V: KRY) is pleased to confirm the filing of its Annual Information Form ("AIF") for the year ended August 31, 2024 on SEDAR+ under the Company's profile at An electronic copy of the AIF may be obtained on the Company's website at or under the Company's SEDAR+ profile. About Koryx Copper Inc. Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia whilst also building a portfolio of copper exploration licenses in Zambia. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970's with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off). Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Further details of the Haib Copper Project are available in the corresponding technical report titled, "NI 43-101 Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia" dated effective August 31, 2024 (the "Technical Report"). The Technical Report and other information is available on the Company's website at and under the Company's profile on SEDAR+ at ON BEHALF OF THE BOARD OF DIRECTORS"Heye Daun"President, CEO and Director Additional information is also available by contacting the Company: Julia Becker Corporate Communications jbecker@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
