Ithaca Energy (LON:ITH) Trading 7.8% Higher After Dividend Announcement

Ithaca Energy plc (LON:ITH)’s stock price traded up 7.8% during trading on Thursday following a dividend announcement from the company. The company traded as high as GBX 107.57 ($1.35) and last traded at GBX 107.57 ($1.35). 1,850,700 shares were traded during mid-day trading, an increase of 108% from the average session volume of 888,891 shares. The stock had previously closed at GBX 99.80 ($1.25).

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 28th will be given a $0.12 dividend. This represents a dividend yield of 9.56%. The ex-dividend date of this dividend is Thursday, November 28th. This is an increase from Ithaca Energy’s previous dividend of $0.10. Ithaca Energy’s dividend payout ratio (DPR) is 23,333.33%.

Ithaca Energy Stock Up 6.1 %

The company has a 50-day moving average of GBX 104.32 and a 200 day moving average of GBX 116.86. The stock has a market capitalization of £1.91 billion and a PE ratio of 963.33.

Ithaca Energy Company Profile

Ithaca Energy plc, together with its subsidiaries, engages in the exploration, development, and production of oil and gas in the North Sea. The company own a portfolio of assets located in Northern and Central North Sea, Moray Firth, and West of Shetland area of the UKCS. Ithaca Energy plc was formerly known as Delek North Sea Limited and changed its name to Ithaca Energy plc in October 2022.