Paramount Resources reports $68.1M Q1 profit, raises monthly dividend 20%

Paramount Resources Ltd. raised its dividend by 20 per cent as it reported a first-quarter profit of $68.1 million. The oil and gas producer says it will now pay a monthly dividend of 15 cents per share, up from 12.5 cents per share. The increase came as Paramount says its first-quarter profit amounted to 46 cents per diluted share for the quarter ended March 31 down from a profit of $197.0 million or $1.33 per diluted share a year earlier. Petroleum and natural gas sales totalled $452.3 million