Q2 2019 Prairiesky Royalty Ltd Earnings Call Transcript
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.
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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