After consolidation Alterra's share count should stand at 46,919,545 shares. A recalculated dividend is C$0.05 per share. It means that the dividend yield should be 0.77% (C$0.05 divided by C$6.5).
Well, although the just announced dividend is rather symbolic I think it is a great day for Alterra and its shareholders. From now on Alterra is a dividend paying company. What is more, its management declares that it plans to increase the dividend regularly:
"John Carson, Alterra's CEO, said, "This inaugural dividend reflects the recent completion and incremental cash flow of the Shannon and Jimmie Creek projects, but is sized modestly for now to accommodate the substantial growth we anticipate over the next four years. We will target regular increases of the dividend as we bring new projects on line"
I am curious about today's market reaction. In the long-term Alterra is drawing a continuation technical pattern called "Cup with Handle":