adminMarvin Romanow
Well, good afternoon, everybody. Can everybody hear me? Coming through? I would load up on some food and drink because we have 2 hours of riveting slide show for you, and you don’t want to get weak at the knees because it’s good stuff.
Welcome. I would like to thank everybody for attending today’s Freehold’s Annual General Meeting. My name is Marvin Romanow, and I’m the Chair of Freehold’s Board of Directors. Do I do the slides, Todd?
Todd McBride
Manager of Investor Relations
Sure, yes.
Marvin Romanow
So hello, first button. I am always impressed when things work. Thank you. So this year, Freehold is celebrating our 30th anniversary. There has been a tremendous amount of growth and progress over the years that I want to share with you today. In 1996, we began with 5,600 barrels a day oil equivalent of production and completed an initial public offering — equity offering at $10 a share.
And you folks may not know, but one of the founders, Peter Harrison, is right in the room here, who was with CN Pension Fund. So although he has great gray hair, he’s not the granddaddy of the company. He’s just the dad of the company. So well done, Peter, for what you and your colleagues have started.
In 2025, our production averaged 16,300 barrels of oil equivalent per day, providing an annual compounded growth rate on production of 4%. Over that time period, we have returned CAD 2.4 billion in dividends to our shareholders. So this represents a cumulative of $37 per share of dividends on a $10 investment 30 years ago. And if you add
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