PrairieSky Royalty Ltd (TSX:PSK)
C$ 27.75 -0.32 (-1.14%) Market Cap: 6.63 Bil Enterprise Value: 6.74 Bil PE Ratio: 29.84 PB Ratio: 2.42 GF Score: 88/100
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Q1 2019 Prairiesky Royalty Ltd Earnings Call Transcript

Apr 23, 2019 / 12:30PM GMT
Release Date Price: C$20.18 (+4.40%)
Operator

Good day, ladies and gentlemen, and welcome to the PrairieSky Royalty Fourth -- First Quarter 2019 Financial Results Conference Call. (Operator Instructions) As a reminder, this conference call is being recorded.

I would now like to introduce your host for today's conference, Mr. Andrew Phillips, President and Chief Executive Officer. Sir, you may begin.

Andrew M. Phillips
PrairieSky Royalty Ltd. - President, CEO & Non-Independent Director

Thank you very much, and welcome to the PrairieSky Royalty Q1 2019 conference call.

On the call from PrairieSky are Pam Kazeil, CFO; Cam Proctor, COO; and myself, Andrew Phillips. I will provide an overview of operations for the quarter then turn the call over to Pam to walk through the financials.

Free cash flow of $57.8 million was used to pay $45.6 million of dividends, which represents a 79% payout ratio. $6.3 million was used to cancel 331,000 shares, and the remaining $5.9 million reduced our working capital deficiency by 40% to $6.2 million that was used to fund the minor land fund

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