CALGARY, May 15, 2014 /CNW/ - Twin Butte Energy Ltd. (TSX:TBE) ("Twin Butte" or the "Company") confirms that its cash dividend in respect of May 2014 production will be $0.016 per share. The eligible dividend will be paid on June 16, 2014 to shareholders of record on May 30, 2014. The ex-dividend date is May 28, 2014. 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.: Jim Saunders, 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; Website: www.twinbutteenergy.com