Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia. Our business model emphasizes organic production growth augmented with value-adding acquisitions, along with returning capital to investors when economically warranted. Vermilion’s operations are focused on the exploitation of light oil and liquids-rich natural gas conventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia. Vermilion is targeting production of between 83,000 to 85,000 boe/d in 2021.
Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important to us than the safety of the public and those who work with us, and the protection of our natural surroundings. We have been recognized as a top decile performer amongst Canadian publicly listed companies in governance practices, as a Climate "A" List performer by the CDP, and a Best Workplace in the Great Place to Work® Institute's annual rankings in Canada, France, the Netherlands and Germany. In addition, Vermilion emphasizes strategic community investment in each of our operating areas.
Employees and directors hold approximately 5% of our fully diluted shares and are committed to delivering long-term value for all stakeholders. Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET. Our global headquarters are located in Calgary, Alberta, Canada.
We have paid cumulative dividends of $3.8B, or $40.20 per share, from 2003 through March 2020.* We are focused on providing our shareholders with steady per-share organic production growth at rates that are appropriate to our asset base. Combined, we expect these attributes will provide our shareholders with an investment that delivers strong returns over the long term.
* On April 15, 2020 we announced the suspension of the monthly dividend until further notice.
Our name originates from Alberta’s Vermilion Lakes, known for their reddish ochre waters. The strong colour of Vermilion, which is made up of red, orange and yellow, represents our focus to be a vibrant energy company that delivers above average shareholder returns through distinctive assets and strategic depth.