TORC Oil & Gas Ltd. Confirms Monthly Dividend for August 2014
Aug 15, 2014, 13:24 ET
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Aug. 15, 2014 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) is pleased to confirm that a dividend of $0.045 per common share will be paid on September 15, 2014 to common shareholders of record on August 31, 2014. The ex-dividend date is August 27, 2014, with payment to be made in cash or common shares at the election of the shareholder. Any common shareholder choosing to receive common shares rather than cash must submit his or her share dividend authorization form no later than 4:30 p.m. (Calgary time) on the fourth business day immediately prior to the record date for the declared dividend payment, being August 26, 2014. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
Share Dividend Program
TORC's Share Dividend Program enables common shareholders to elect to receive dividends in common shares calculated at 95% of the weighted average trading price, for the five days immediately prior to the payment date. Participation in the Share Dividend Program is optional and all fees associated with the Share Dividend Program will be paid by TORC.
The Share Dividend Program has certain tax advantages which are described in more detail in TORC's Information Circular dated August 7, 2013 which is available on SEDAR at www.sedar.com. For further information regarding the Share Dividend Program, please contact Olympia Trust Company at 403-668-8887 or 1-800-727-4493.
TORC Oil & Gas Ltd. is a Calgary based company active in the acquisition, exploration, development and production of crude oil and natural gas in Western Canada.
SOURCE: TORC Oil & Gas Ltd.
For further information: TORC Oil & Gas Ltd., Brett Herman, President and Chief Executive Officer, Telephone: (403) 930-4120, Facsimile: (403) 930-4159; TORC Oil & Gas Ltd., Jason J. Zabinsky, Vice President, Finance and Chief Financial Officer, Telephone: (403) 930-4120, Facsimile: (403) 930-4159, www.torcoil.com
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