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Prices & Quotes - UK Markets - Cairn Energy (CNE)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 165.60p
Change Today:
-3.20p
Market Cap:
826.79m
Sector:
Oil & Gas Producers

Cairn Energy to pay special dividend after agreeing sale of Senegal assets

By Michele Maatouk

Date: Monday 27 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Cairn Energy said on Monday that it has agreed the sale of its Senegal assets to Lukoil for $400m in cas and announced plans for a special dividend.
The company has agreed to sell its entire 40% interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore ( RSSD) Contract Area, including the Sangomar development, offshore Senegal. Following completion of the sale, it plans to return at least $250m to shareholders.

Cairn said the deal is consistent with its "disciplined approach" to portfolio management and capital allocation and long-term strategy to return capital to shareholders. It also said the sale will enhance its financial flexibility to sustain and grow a "balanced and robust portfolio" during current challenging and uncertain oil market conditions.

Chief executive Simon Thomson said: "With a strong balance sheet, low breakeven production and limited capital commitments, Cairn will have enhanced financial flexibility to invest in and grow the business whilst always remaining committed to returning excess cash to shareholders."

At 0813 BST, the shares were up 5.9% at 131.80p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Cairn Energy Market Data

Currency UK Pounds
Price 165.60p
Change Today -3.20p
52 Week High 212.74p
52 Week Low 103.87p
Volume 754,721
Shares Issued 499.27m
Market Cap 826.79m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 5
Sell 1
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cairn Energy Dividends

  Latest Previous
  Special Interim
Ex-Div 11-Jan-21 n/a
Paid 25-Jan-21 n/a
Amount 32.00p 0.000¢

Trades for 14-May-2021

Time Volume / Share Price
16:35 300,066 @ 165.60p
16:29 468 @ 166.24p
16:29 68 @ 166.00p
16:29 176 @ 166.20p
16:29 2 @ 166.20p

Cairn Energy Key Personnel

CEO Simon Thomson
CFO James Smith