CALGARY, June 17, 2013 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") confirms that its cash dividend in respect of June 2013 production
will be $0.016 per share. The eligible dividend will be paid on July
15, 2013 to shareholders of record on June 28, 2013. The ex-dividend
date is June 26, 2013. These dividends are designated as "eligible
dividends" for Canadian income tax purposes.
Stock Dividend Program
To deliver increased optionality Twin Butte has 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 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 SDP, please contact Valiant
Trust Company at 403-233-2801.
Dividend Reinvestment Plan
Twin Butte has a Dividend Reinvestment Plan 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.
For further information regarding the Dividend Reinvestment Plan or the
Stock Dividend Program, 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