South Africa Aims to Forge G-20 Accord Despite US Enmity
Discussions in the lead-up to a meeting at a resort near the eastern port city of Durban this week laid a strong foundation for consensus to be reached, Duncan Pieterse, the director-general of South Africa's National Treasury, said in an opening address to officials on Monday.
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Yahoo
33 minutes ago
- Yahoo
A 7.6% Dividend Stock Paying Cash Every Single Month
Written by Kay Ng at The Motley Fool Canada Are you looking for high monthly income from your investments? Whitecap Resources (TSX:WCP), a Canadian oil-weighted producer, might be flying under your radar. While energy stocks are often seen as volatile and more suitable for trading than income, Whitecap Resources breaks this notion with a hefty 7.6% dividend yield — paid in cash every single month. At a recent share price of $9.63, a $10,000 investment in Whitecap would generate approximately $757 annually, or about $63 per month. But is this eye-catching dividend too good to be true? Is the dividend safe? One of the first questions any prudent investor should ask is whether a high dividend is sustainable. In Whitecap Resources's case, the short answer is yes — for now. Whitecap's dividend is currently covered by both its free cash flow and earnings. Over the trailing 12 months, the company paid out only 68% of its free cash flow and 47% of its net income. With a breakeven West Texas Intermediate oil price of around US$55 per barrel — and current oil prices sitting above US$68 — there's a decent cushion. This year, the company is targeting production between 295,000 and 300,000 barrels of oil equivalent per day and expects to generate $2.8 billion in funds flow, or about $2.79 per share. Its planned capital expenditures total $2.0 billion, which still leaves room to support dividend payments — $431.4 million over the past 12 months — with some flexibility left over. To top it off, Whitecap is considering buying back shares, a move that can enhance shareholder value over time, especially since shares appear to be undervalued at the moment. Its balance sheet remains solid, with a long-term debt-to-capital ratio of just 13.7%. The risk you can't ignore However, it would be misleading to focus only on the present. Whitecap Resources's dividend history shows that it is highly sensitive to extreme market downturns. In 2020, during the pandemic-induced oil crash, Whitecap cut its dividend by 36%. Back in 2016, amid another energy price collapse, the dividend was slashed by nearly 54%. Each time, share prices also plummeted — falling below $1 during COVID and to around $6 in 2016. But there's a silver lining: both times, Whitecap raised its dividend again once markets recovered. That speaks to a management team willing to restore income when the business stabilizes, though it's clear the payout isn't immune to commodity price shocks. Investors should view Whitecap as a high-yield play with built-in volatility. It's best suited as a satellite position in a diversified portfolio — something to juice income or as a trading position that targets total returns with a focus on price gains, not something to anchor your retirement. Should you buy now? Whitecap Resources reports its second-quarter results on July 23, so waiting for that update could offer added clarity on the business performance and guidance. In the meantime, analysts believe the stock is undervalued by over 20% based on current oil prices and forecasted cash flows. That discount, paired with a secure (for now) 7.6% yield, makes this one of the more compelling income opportunities on the TSX. Bottom line: Whitecap pays a mouth-watering monthly dividend, backed by current cash flow, solid operations, and a strong balance sheet. Just don't forget — it's still an energy stock. If you've got the stomach for some bumps and a long-term outlook, this could be one dividend payer worth holding through the cycles. The post A 7.6% Dividend Stock Paying Cash Every Single Month appeared first on The Motley Fool Canada. More reading 10 Stocks Every Canadian Should Own in 2025 [PREMIUM PICKS] Market Volatility Toolkit A Commonsense Cash Back Credit Card We Love Fool contributor Kay Ng has no position in any of the stocks mentioned. The Motley Fool recommends Whitecap Resources. The Motley Fool has a disclosure policy. 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
Hamilton Spectator
an hour ago
- Hamilton Spectator
Clip Money Inc. Announces US$4,000,000 Financings
TORONTO, July 18, 2025 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) ('Clip Money' or the 'Company'), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce the closing of a non-brokered private placement of an unsecured convertible note (the 'Convertible Note') for gross proceeds of US$3,000,000 (or CAD$4,125,900, based on a CAD/USD exchange rate of US$1 = CAD$1.3753) to Cardtronics Inc. ('Cardtronics'), a subsidiary of NCR Atleos Corporation (the 'Convertible Note Financing'). Cardtronics is Clip Money's largest shareholder and also a strategic commercial partner through the NCR Atleos Allpoint ATM network. Cardtronics' continued support highlights its confidence in the Clip Money solution and team. Separately, Clip Money is also pleased to announce the closing of a non-brokered private placement of 6,876,500 common shares in the capital of the Company ('Common Shares') at a price of CAD$0.20 per Common Share for gross proceeds of US$1,000,000 (or CAD$1,375,300, based on a CAD/USD exchange rate of US$1 = CAD$1.3753) to two insiders of the Company (the 'Equity Financing', together with the Convertible Note Financing, the 'Financings'). The Convertible Note will accrue simple interest at a rate of 13% per annum. The Company will make quarterly cash interest payments in satisfaction of a portion of the interest that accrues on the principal amount of the Convertible Note in the preceding quarter. The principal amount of the Convertible Note outstanding on the Maturity Date plus all accrued and unpaid interest thereon that has not been previously paid in connection with the quarterly interest payments will be due and payable in full on, July 18, 2030 (the 'Maturity Date'). On the Maturity Date, payment of the principal amount of the Convertible Note then outstanding will be satisfied by the Company, at Cardtronics' sole discretion, through: (i) a cash payment equal to the entirety of the principal amount of the Convertible Note then outstanding; (ii) the issuance of a number of Common Shares equal to the entirety of the principal amount of the Convertible Note then outstanding divided by CAD$0.55 (the 'Conversion Price'); or (iii) a combination of a cash payment and the issuance of Common Shares at the Conversion Price, provided that at least 50% of the principal amount of the Convertible Note then outstanding must be converted into Common Shares. On the Maturity Date, payment of all accrued and unpaid interest up to and including the Maturity Date that has not been previously satisfied by way of the quarterly interest payments will be satisfied by the Company, at Cardtronics' sole discretion, through: (i) a cash payment equal to the entirety of all accrued and unpaid interest up to and including the Maturity Date; (ii) the issuance of a number of Common Shares equal to the entirety of the accrued and unpaid interest up to the Maturity Date divided by the then-prevailing market price of the Common Shares on the TSX Venture Exchange (the 'TSXV'), subject to prior written approval of the TSXV; or (iii) a combination of a cash payment and the issuance of Common Shares at the then prevailing market price of the Common Shares on the TSXV, subject to prior written approval of the TSXV. Subject to the terms of the Convertible Note, if the Company redeems all or a portion of the Convertible Note prior to the three year anniversary thereof, it must pay a redemption price equal to 102% of the portion of the principal amount of the Convertible Note being redeemed plus all accrued and unpaid interest up to and including the redemption date on the portion of the principal amount being redeemed. Such a redemption shall be payable in cash or, at the election of the holder and subject to the prior written approval of the TSXV, be payable in Common Shares pursuant to the terms of the Convertible Note. Subject to the terms of the Convertible Note, if the Company redeems all or a portion of the Convertible Note after the three year anniversary thereof and until the date that is one day before the Maturity Date, it must pay a redemption price equal to 101% of the portion of the principal amount of the Convertible Note being redeemed plus all accrued and unpaid interest up to and including the redemption date on the portion of the principal amount being redeemed. Such a redemption shall be payable in cash or, at the election of the holder and subject to the prior written approval of the TSXV, be payable in Common Shares pursuant to the terms of the Convertible Note. The Financings represent related-party transactions under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'), but are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transactions nor the consideration paid exceeds 25% of the Company's market capitalization. All securities to be issued in connection with the Equity Financing and the Convertible Note Financing are subject to a statutory hold period of four months plus a day from the date hereof in accordance with applicable securities legislation in Canada. The Company intends to use the net proceeds from the Financings for network expansion and customer acquisition, new unit capital expenditures, business operations and technology and for general corporate purposes. There was no finder's fee paid in connection with the Financings. EARLY WARNING DISCLOSURE REGARDING BRIAN BAILEY In connection with closing of the Equity Financing, Brian Bailey, president and chief operating officer of Clip Money, acquired 3,438,250 Common Shares at a price of CAD$0.20 per Common Share pursuant to the terms of a subscription agreement. Prior to closing of the Equity Financing, Mr. Bailey beneficially owned, directly or indirectly, (i) 7,233,766 Common Shares, (ii) a convertible note in the principal amount of CAD$367,518 (the 'Bailey Convertible Note') that is convertible into 735,036 Common Shares, in whole or in part, at the option of Mr. Bailey, based on the principal amount of the Bailey Convertible Note divided by the conversion price of CAD$0.50, (iii) 455,118 common share purchase warrants ('Warrants') exercisable for 455,118 Common Shares, and (iv) 1,449,650 options exercisable for 1,449,650 Common Shares (the 'Options'), representing approximately 6.86% of the issued and outstanding Common Shares of Clip Money on a non-diluted basis and approximately 9.14% of the issued and outstanding Common Shares of Clip Money on a partially diluted basis assuming the full conversion of the Bailey Convertible Note and the full exercise of the Warrants and Options. Following closing of the Equity Financing, Mr. Bailey will own (i) 10,672,016 Common Shares, (ii) the Convertible Note, (iii) 455,118 Warrants and (iv) 1,449,650 Options, representing approximately 9.51% of the issued and outstanding Common Shares of Clip Money on a non-diluted basis and approximately 11.59% of the issued and outstanding Common Shares of Clip Money on a partially diluted basis assuming the full conversion of the Bailey Convertible Note and the full exercise of the Warrants and Options. The securities of Clip Money are being held by Mr. Bailey for investment purposes and Mr. Bailey will evaluate his investment in the Company from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease his shareholdings through market transactions, private agreements, or otherwise. This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the early warning report to be filed by Mr. Bailey in connection with the transactions described above will be available on the Company's SEDAR+ profile at . A copy of such report may also be obtained by contacting Joseph Arrage by telephone at 844-593-2547 or by email at jarrage@ . The Company's registered office is located at 333 Bay Street, Suite 3400, Toronto, Ontario, M5H 2S7. About Clip Money Inc. Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box or ClipATM located near them. After being deposited, the funds will automatically be credited to the business' bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit . Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact: Joseph Arrage Chief Executive Officer tel: 844-593-2547
Bloomberg
an hour ago
- Bloomberg
Congo, Rwanda-Backed Rebels Agree to Principles to End Fighting
Democratic Republic of Congo and the Rwanda-backed M23 rebel movement signed a declaration of principles aimed at ending nearly four years of fighting. The signature took place in Doha on Saturday with Massad Boulos, the US special envoy for Africa, as a witness. Qatar's government has been overseeing peace talks between the rebels and the Congolese government.
