CALGARY, Oct. 17, 2016 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard") (TSX: NBZ) announced today a dividend of $0.04 per common share for October 2016. The dividend will be payable on November 15, 2016 to shareholders of record on October 31, 2016. This dividend has been designated as an eligible dividend under the Income Tax Act (Canada).
Northern Blizzard offers a Stock Dividend Program ("SDP") where shareholders may elect to receive their dividends in the form of common shares in lieu of receiving a cash dividend on the dividend payment date. Participation in the SDP is optional; additional information can be found on Northern Blizzard's website at www.northernblizzard.com or by contacting your financial institution or investment advisor. The availability of the SDP and the respective terms and conditions are subject to the discretion of Northern Blizzard's Board of Directors.
Northern Blizzard is a Calgary, Alberta based Canadian crude oil production and development company focused on maximizing oil recovery from its large-scale low viscosity heavy oil resource base. The corporation's operations, infrastructure and concentrated land position are focused in southwest Saskatchewan. Northern Blizzard's common shares trade on the Toronto Stock Exchange under the symbol NBZ.
This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including with respect to the amount and payment of future dividends by Northern Blizzard. The reader is cautioned that forward-looking information is based on certain assumptions, and is subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking information will not occur. In particular, the payment of dividends is dependent on the satisfaction of the applicable liquidity and solvency tests imposed by the Business Corporations Act (Alberta). Readers should also refer to the risk factors set forth in the Company's annual information form dated March 11, 2016 available at www.sedar.com. There can be no assurance that the plans, intentions or expectations upon which forward-looking information is based will be realized. Actual results may differ, and the difference may be material and adverse to the Company and its shareholders.
SOURCE Northern Blizzard Resources Inc.
For further information: For further information about Northern Blizzard Resources Inc., please visit our website at www.northernblizzard.com or contact: Northern Blizzard Resources Inc., Telephone: 403-930-3000, John Rooney, Chairman & Chief Executive Officer, Michael Makinson, Vice President, Finance & Chief Financial Officer