i3 Energy plots payout increase amid commodity price jump

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Shares in i3 Energy PLC climbed on Wednesday after the oil and gas firm upped its minimum 2022 dividend by a quarter amid a commodity price boom.

Shares in i3 were trading 4.9% higher at 27.70 pence each in London on Wednesday afternoon.

i3 lifted the minimum payout by 25% to £14.8 million from £11.8 million. This will be implemented by upping its monthly dividend.

For June, it will pay a dividend totalling £1.6 million, 0.1425p per share, lifted from the previous £1.2 million per month payout schedule it began in March.

The company cites an ‘ongoing exceptional performance’ rooting from the initial phase of its 2022 development drilling programme, and continuing commodity price strength for the dividend increase.

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