Beach Energy's (ASX:BPT) final dividend of AU$0.06 per share for the fiscal year ended June 30 exceeded expectations of AU$0.04 per share and is poised to increase to AU$0.08 next year, according to a Tuesday report by Euroz Hartleys.
On Monday, the company declared a final dividend of AU$0.06 per share, up from AU$0.02 a year earlier.
Euroz believes once Beach Energy's Waitsia project in Western Australia starts production and ramps up, there will be more confidence in the company's expected cash flow.
The firm maintained Beach Energy's buy rating and its AU$1.32 price target.
Shares of the company rose past 3% in recent Tuesday trade.
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