Ithaca Energy (LON:ITH) Trading Up 7.8% Following Dividend Announcement

Ithaca Energy plc (LON:ITH)’s share price rose 7.8% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as GBX 107.57 ($1.35) and last traded at GBX 107.57 ($1.35). Approximately 1,850,700 shares were traded during mid-day trading, an increase of 108% from the average daily 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. Investors of record on Thursday, November 28th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 28th. This represents a yield of 9.56%. This is a positive change from Ithaca Energy’s previous dividend of $0.10. Ithaca Energy’s payout ratio is presently 23,333.33%.

Ithaca Energy Price Performance

The stock’s 50 day simple moving average is GBX 104.32 and its two-hundred day simple moving average is GBX 116.86. The firm has a market cap of £1.91 billion and a P/E 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.