In early October, we noted that Petrus Resources PRQ-T envisioned a shareholder return of capital plan that included dividends. It subsequently declared and paid a special cash dividend of 3 cents per share in October. However, the stock plunged 20 cents on Halloween on the back of motivated selling. Challenging liquidity conditions driven by central bank tightening likely did not help. After Petrus announced the inauguration of a monthly dividend in 2024 on Nov. 8, two insiders bought a combined 15,000 shares at an estimated average price of $1.33.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.