REPORTING SEASON: Santos Limited (STO)
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Figure 1: Santos Limited 12 month chart
Energy company, Santos (STO) announced an 11.3% rise in 1H13 underlying profit to $251m.
The result was driven by higher natural gas prices, which rose by 11% over the half.
This helped offset a slight fall in both production & sales volume.
Overall there were few surprises.
A $0.15/s dividend was declared, to be paid to eligible shareholders on 30 Sept.
STO reduced its dividend in 2011, however has still paid out $0.30/year over the past 3 years.
A drop in production was already flagged in July, with guidance for FY13 downgraded to between 52-55mmboe.