CALGARY, Oct. 15, 2012 /CNW/ - Longview Oil Corp. ("Longview" or the "Corporation") announces that the October 2012 monthly cash dividend will be $0.05 per share and will be paid on November 15, 2012. The record date for the dividend is October 31, 2012, and the ex-dividend date is October 29, 2012. The dividend is considered an "eligible dividend" for Canadian tax purposes.
Longview's business strategy is to provide shareholders with attractive long term returns that combine both growth and yield by exploiting its assets in a financially disciplined manner and by acquiring additional long-life oil assets of a similar nature. Longview's asset base is comprised of operated oil-weighted resource plays with high working interests in the Western Canadian Sedimentary Basin.
The payment and the amount of dividends declared in any month will be subject to the discretion of the board of directors and will depend on the board of director's assessment of the Corporation's outlook for growth, capital expenditure requirements, funds from operations, potential acquisition opportunities, debt position and other conditions that the board of directors may consider relevant at such future time, including applicable restrictions that may be imposed under the Corporation's Credit Facilities and on the ability of the Corporation to pay dividends. The amount of future cash dividends, if any, may also vary depending on a variety of factors, including fluctuations in commodity prices, production levels, capital expenditure requirements, debt service requirements, operating costs, royalty burdens and foreign exchange rates.
All dollar amounts in this press release are Canadian dollars unless otherwise indicated.
SOURCE: Longview Oil Corp.
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