CALGARY, July 15, 2013 /CNW/ - Twin Butte Energy Ltd. (TSX:TBE) ("Twin Butte" or the "Company") confirms that its cash dividend in respect of July 2013 production
will be $0.016 per share. The eligible dividend will be paid on August
15, 2013 to shareholders of record on July 31, 2013. The ex-dividend
date is July 29, 2013. These dividends are designated as "eligible
dividends" for Canadian income tax purposes.
Twin Butte has a Dividend Reinvestment Plan ("DRIP") that provides a
convenient and cost-effective method for eligible holders in Canada to
maximize their investment in Twin Butte by reinvesting their monthly
cash dividends to acquire additional common shares.
Twin Butte has also implemented a Stock Dividend Program ("SDP") available to eligible Canadian and non-Canadian shareholders of Twin
Butte. Shareholders that participate in the SDP will receive dividends
in the form of common shares of Twin Butte instead of receiving a cash
dividend on the payment date. Dividends will be paid to electing
shareholders in the form of Common Shares at 95% of the volume weighted
average trading price for the five trading days preceding the dividend
payment date. Participation in the SDP plan is optional and fees
associated with the plan will be paid by Twin Butte.
Further details regarding the benefits and potential tax consequences of
the DRIP or SDP are outlined in Twin Butte's Information Circular -
Proxy Statement dated March 28, 2013 (the "Information Circular") which
is available on SEDAR at www.sedar.com and on Twin Butte's website at www.twinbutteenergy.com.
For further information regarding the DRIP or the SDP, please contact
your broker, visit our website at www.twinbutteenergy.com or contact Valiant Trust Company at 1-866-313-1872
About Twin Butte:
Twin Butte Energy Ltd. is a dividend paying value oriented intermediate
producer with a significant low risk, high rate of return drilling
inventory focused on large original oil and gas in place play types.
With a stable low decline production base, Twin Butte is well
positioned to provide shareholders with a sustainable dividend with
growth potential over both the short and long term. Twin Butte is
committed to continually enhance its asset quality while focusing on
the sustainability of its dividend. The common shares of Twin Butte
are listed on the TSX under the symbol "TBE".
SOURCE: Twin Butte Energy Ltd.
For further information:
Twin Butte Energy Ltd.
President and Chief Executive Officer
Tel: (403) 215-2040
Fax: (403) 215-2055
R. Alan Steele
Vice President, Finance, Chief Financial Officer and Corporate Secretary
Tel: (403) 215-2692
Fax: (403) 215-2055