The completion of the sale also satisfies the condition for payment of a special 0.5 cent per share dividend to shareholders, in addition to the 0.5 cent per share distribution for the FY21 half year.
The completion strengthens Senex’s balance sheet, now in a proforma net cash position of $33 million, and supports acceleration of the development of its low-cost, high-return and long-life natural gas assets in Queensland’s Surat Basin.
