Omer stock market darling Cornerstone of the Bay Driven by rising stock prices and new management, oil today showed signs of rebounding from the shareholder rebellion.
Some in city Say that GKP still has a top-heavy cost base and the fees paid are not high enough dividend, But the new CEO Jon Harris reported a half-year profit of 65 million U.S. dollars, compared with a loss of 33 million U.S. dollars last time.
The company pointed out that the stock has a dividend of 100 million U.S. dollars and a yield of 22%, and said that the cash on the balance sheet can be used in the future Grow.
This summer, a shareholder vote resulted in the departure of then CEO Jon Ferrier, and chairman Jaap Huijskes insisted and expects to remain in office.
GKP shares rose 13 pence to 168 pence today, bringing the value of the business to 360 million pounds. This is a far cry from a few years ago, when the company was a popular stock popular with city traders and London taxi drivers.
The broker Stifel has a target price of 250 pence for the stock. Peel Hunt is more powerful 300p.
Harris said: “We continue to deliver on our promise to balance growth investment and return. shareholderToday, we are pleased to announce an interim dividend of 50 million U.S. dollars for 2021, bringing the total dividend for this year to 100 million U.S. dollars. “
GKP’s main asset is in Kurdistan-the company said that previous difficulties with the local government are now a thing of the past.
Revenue increased by 162% to US$131 million.
