CALGARY, Nov. 15, 2012 /CNW/ - Vermilion Energy Inc. ("Vermilion") (VET
- TSX) is pleased to announce a cash dividend of $0.19 CDN per share
payable on December 17, 2012 to all shareholders of record on November
30, 2012. The ex-dividend date for this payment is November 28, 2012.
This dividend is an eligible dividend for the purposes of the Income
Tax Act (Canada).
As previously announced Vermilion's Board of Directors has approved a
5.3% increase in the monthly cash dividend to $0.20 CDN per share from
the previous level of $0.19 CDN per share. The increase is expected to
become effective for the January 2013 dividend payable on February 15,
2013. In accordance with applicable corporate law and solvency
requirements, formal declaration and payment of the January 2013
dividend remains subject to final Board of Director approval prior to
its declaration on or about January 15, 2012.
Vermilion is an oil-leveraged producer that adheres to a value creation
strategy through the execution of full cycle exploration and production
programs focused on the acquisition, exploration, development and
optimization of producing properties in Western Canada, the broader
European region and Australia. Vermilion is targeting annual growth in
production primarily through the exploitation of conventional resource
plays in Western Canada, including Cardium light oil and liquids rich
natural gas, the exploration and development of high impact natural gas
opportunities in the Netherlands and through drilling and workover
programs in France and Australia. Vermilion also holds an 18.5%
working interest in the Corrib gas field in Ireland. Vermilion believes
it is well positioned to continue to provide shareholders with steady
growth and stable and growing dividends. Management and directors of
Vermilion hold approximately 8% of the outstanding shares and are
dedicated to consistently delivering superior rewards for all its
stakeholders. Vermilion trades on the Toronto Stock Exchange under the
symbol VET and over-the-counter in the United States under the symbol
SOURCE: Vermilion Energy Inc.
For further information:
Dean Morrison, CFA
Director, Investor Relations
Suite 3500, 520 - 3rd Avenue S.W.
Calgary, Alberta T2P 0R3
Phone: (403) 269-4884
Fax: (403) 476-8100
IR Toll Free: 1-866-895-8101