07:31 AM EDT, 07/15/2024 (MT Newswires) -- Surge Energy(SGY.TO) on Monday confirmed an 8% increase to its quarterly dividend, from $0.48 per share ($0.040 monthly) to $0.52 per share per year ($0.043 monthly).

The next dividend will be paid on August 15.

On an annualized basis, the increased dividend of $52 million represents less than 18% of the company's 2024 cash flow from operating activities guidance of $290 million, the company said.