In today’s briefing:
- Gevo, Inc. – 3Q23 Results: RNG Sales Continues to Ramp Up
- W&T Offshore, Inc. – Cash Flow Supports Dividend Implementation
Gevo, Inc. – 3Q23 Results: RNG Sales Continues to Ramp Up
- GEVO completed the previously announced expansion of renewable natural gas to 400,000 MMBtu from 355,000 MMBtu.
- On the Verity front, an agreement was signed with a third ethanol producer customer in the US Southwest, taking total planned volume of ethanol tracked to more than 300 million gallons per year or 2% of the US ethanol market.
- Additionally, GEVO also signed, finalized, and executed the previously announced US Department of Agriculture (USDA) grant of up to $30 million for the Climate-Smart Farm-to-Flight Program.
W&T Offshore, Inc. – Cash Flow Supports Dividend Implementation
- W&T implemented a $0.01 per share quarterly dividend that will be paid on December 22, 2023, to shareholders of record on November 28, 2023.
- The dividend reflects management’s focus on generating free cash flow from the asset base that is available for reinvestment, debt reduction, and returns to shareholders.
- The annualized yield is currently 1.1%.
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