05:30 PM EST, 01/29/2025 (MT Newswires) -- Paramount Resources ( PRMRF ) , after trade Wednesday, said that its shareholders have approved a special resolution to reduce the capital of its class A common shares, allowing the company to return capital to shareholders.

The company said it plans to distribute $15 per share to shareholders after completing its asset sale to Ovintiv ( OVV ) . This will consist of $12 per share as a return of capital and $3 per share as a special dividend.

The distribution is contingent on the completion of the asset sale, which is expected to close soon, the company added.