By Robb M. Stewart
Total Energy Services plans to boost its dividend payout 20% this quarter.
The provider of drilling and transportation services for energy companies in North America and Australia said Tuesday its board approved lifting the dividend to 12 Canadian cents a share (8.6 U.S. cents), beginning the quarter ended March 31.
The new payout, equal to C$0.48 a year, represents an annual yield of about 3.1% based on Monday's closing price of C$15.37.
Total Energy has set a preliminary capital budget for 2026 of C$55.8 million, which includes C$34.8 million of maintenance capital and C$21 million of growth capital.
The company said it intends to finance the spending program with cash on hand as well as cash flow from operations.
In addition, about C$24.5 million of the company's 2025 capital expenditure commitments will carry into 2026.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
January 13, 2026 08:24 ET (13:24 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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