CALGARY, March 16, 2015 /CNW/ - Twin Butte Energy Ltd. (TSX:TBE) ("Twin Butte") confirms that its cash dividend in respect of March 2015 production will be $0.01 per share. The eligible dividend will be paid on April 15, 2015 to shareholders of record on March 31, 2015. The ex-dividend date is March 27, 2015. These dividends are designated as "eligible dividends" for Canadian income tax purposes.
As stated in Twin Butte's December 18, 2014 press release, commencing with the January 2015 dividend payable on February 17, 2015, Twin Butte's Dividend Reinvestment Plan ("DRIP") and Stock Dividend Plan ("SDP") will be suspended until further notice. Shareholders who had elected to participate in the DRIP or SDP will receive cash dividends on the payment date. Registered shareholders that were enrolled in the DRIP and SDP when the plans are suspended will remain enrolled at reinstatement and will automatically resume participation in the DRIP and SDP if, and when, the DRIP and SDP are reinstated.
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 in place, play types. Twin Butte provides shareholders with a monthly dividend along with growth potential over the 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: please contact: Twin Butte Energy Ltd.: Jim Saunders, Chief Executive Officer; Rob Wollmann, President; R. Alan Steele, Vice President, Finance, Chief Financial Officer and Corporate Secretary, Tel: (403) 215-2045, Website: www.twinbutteenergy.com