Africa Oil Q2 Profit Drops

Africa Oil Corp. (AOI.TO) reported that its second quarter net income dropped to $5.65 million or $0.01 per share from $38.38 million or $0.08 per share in the prior year.

Quarterly net operating income declined to $6.37 million from last year's $44.13 million. The operating income primarily relates to the company's share of profit from its investments in Prime amounting to $14.4 million.

The second dividend distribution for 2022 of $0.025 per share is payable on September 30, 2022, to shareholders of record at the close of business on September 9, 2022.

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