Hemisphere Energy Declares Record Dividend Payment and Reports Strong Q2 Results
Hemisphere Energy Corporation has announced its quarterly dividend payment to shareholders, along with its financial and operating results for the three and six months ended June 30, 2026. The company's Board of Directors approved a quarterly base cash dividend of $0.025 per common share in accordance with the Company's dividend policy.
The dividend will be paid on September 11, 2026 to shareholders of record as of August 28, 2026. This is an eligible dividend for income tax purposes. Hemisphere generated record revenue of $33.6 million and delivered a record operating netback of $22.1 million during the quarter.
The company also reported a record quarterly adjusted funds flow from operations (AFF) of $16.7 million, or $51.25/boe. This is attributed to its heavy oil production, which averaged 3,576 boe/d during the quarter. Hemisphere achieved total operating and transportation costs of $14.35/boe.
The company's strong balance sheet and unhedged oil production position it well to capitalize on the current oil price environment. It plans to continue prioritizing per-share growth and shareholder returns. Hemisphere is a dividend-paying Canadian oil company focused on maximizing value-per-share growth with the sustainable development of its high netback, low decline conventional heavy oil assets through polymer flood enhanced oil recovery methods.