Journey currently intends to establish a conservative dividend policy with a simple payout ratio of approximately 25% of cash flows. The Company's primary goal is to maintain sufficient resources and flexibility to meet its financial, operational and capital expenditure requirements to grow its current production base by a target of 7% to 10% annually. The declaration of dividends in any month, and the amount of any such dividends, will be subject to the discretion of the Board of Directors and will depend on the Board's assessment of the Company's outlook for growth, capital expenditure requirements, cash flow from operations, potential acquisition opportunities, debt position and other conditions that the Board may also consider relevant.
As of December 14, 2015 Journey has suspended its quarterly dividend until further notice.
The below tables show the historical dividends paid.