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

Q2 2019 Prairiesky Royalty Ltd Earnings Call Transcript

Jul 23, 2019 / 12:30PM GMT
Release Date Price: C$18.09 (+0.17%)
Operator

Good day, ladies and gentlemen, and welcome to the PrairieSky Royalty announces their Second 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, President and CEO, Andrew Phillips. Mr. Phillips, you may begin.

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

Good morning, and thank you for dialing in to the PrairieSky Royalty Q2 2019 conference call. On the call from PrairieSky are Pam Kazeil, CFO; Cam Proctor, COO; and myself, Andrew Phillips. I will provide an operational update and then turn the call over to Pam to walk through the financials.

PrairieSky generated $58 million in free cash flow in Q2 2019, which paid $45.6 million in dividends, a 79% payout ratio, canceled approximately 400,000 common shares for $5.7 million and reduced the working capital deficiency to $2.1 million.

In addition, $1 million was used for land fund acquisitions to acquire 32,000

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