Declared Dividend • Jul 08
Dividend of CA$0.05 announced Shareholders will receive a dividend of CA$0.05. Ex-date: 17th July 2026 Payment date: 31st July 2026 Dividend yield will be 2.0%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is not covered by earnings (162% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 80% to bring the payout ratio under control. EPS is expected to grow by 277% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jul 07
Paramount Resources Ltd. to Report Q2, 2026 Results on Aug 06, 2026 Paramount Resources Ltd. announced that they will report Q2, 2026 results Pre-Market on Aug 06, 2026 Announcement • Jul 02
AKITA Drilling Ltd. (TSX:AKT.A) completed the acquisition of Fox Drilling Limited Partnership from Paramount Resources Ltd. (TSX:POU) for approximately CAD 106 million. AKITA Drilling Ltd. (TSX:AKT.A) entered into a definitive agreement to acquire Fox Drilling Limited Partnership from Paramount Resources Ltd. (TSX:POU) for CAD 75.9 million on April 26, 2026. The purchase price includes issuance of 19,264,270 common shares to Paramount Resources Ltd. Following the completion, Paramount shareholders are expected to collectively hold approximately 33% of AKITA's outstanding Common Shares. A special meeting of AKITA shareholders to approve the Share Reorganization to be held in June 2026.
The transaction is subject to customary conditions, including the conditional approval of the TSX for the listing of the Common Shares and shareholder approvals. The special meeting of the shareholders of AKITA will be held to approved the transaction on June 29, 2026.
Blake, Cassels & Graydon LLP acted as legal advisor for AKITA Drilling Ltd. Charles River Associates served as financial advisor to the board of directors of the AKITA Drilling Ltd. Peters & Co., Limited acted as financial advisor and Norton Rose Fulbright Canada LLP acted as legal advisor for Paramount Resources Ltd. Odyssey Trust Company acted as transfer agent for AKITA Drilling Ltd.
AKITA Drilling Ltd. (TSX:AKT.A) completed the acquisition of Fox Drilling Limited Partnership from Paramount Resources Ltd. (TSX:POU) for approximately CAD 106 million on June 30, 2026. As of June 30, 2026, Pursuant to the Share Reorganization, each Class A Non-Voting Share of AKITA changed into one Class B Common Share of AKITA following which the Class B Shares were renamed Common Shares. 
