I was fortunate to have my small order for 100 shares of Bonterra Energy filled at on Wednesday, May 19th. This purchase gives me exposure to oil and generates strong dividend income for my portfolio. The dividend is currently set at $0.21 per month (7%) and fluctuates based on oil prices and production. As stated on the company`s website, Bonterra has paid a monthly dividend since going public and pays out between 60-75% of fund flow.
My reasons for choosing BNE are simple: they have a lot of unbooked reserves in the prolific Cardium region, a huge yield of 7% (higher than CPG, PBN), are due for another dividend increase (dividend is currently 50% of fund flow), are actively drilling and growing production, and have very large insider ownership.
At today`s dividend rate, this purchase increases my quarterly dividend income from $88.85 to over $150.
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