CALGARY, Oct. 14, 2016 /CNW/ - Vermilion Energy Inc.
("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash
dividend of $0.215 CDN per share
payable on November 15, 2016 to all
shareholders of record on October 24,
2016. The ex-dividend date for this payment is
October 20, 2016. This dividend
is an eligible dividend for the purposes of the Income Tax Act
(Canada).
As previously announced, we commenced prorating the Premium
DividendTM component of our Dividend Reinvestment Plan
by 25%, beginning with the dividend paid on October 17, 2016. Eligible shareholders who
have elected to participate in the Premium DividendTM
component currently receive a 1.5% premium on 75% of their shares,
and the regular cash dividend on the remaining 25% of their
shares. Subject to unexpected changes in the commodity price
outlook, it is our intent to continue increasing the proration
during 2017, at the end of which there would be no further equity
issuance under the Premium DividendTM component of our
Dividend Reinvestment Plan.
Vermilion is an international energy producer that seeks to
create value through the acquisition, exploration, development and
optimization of producing properties in North America, Europe and Australia. Our business model targets
annual organic production growth, along with providing reliable and
increasing dividends to investors. Vermilion is targeting
growth in production primarily through the exploitation of light
oil and liquids-rich natural gas conventional resource plays in
Canada and the United States, the exploration and
development of high impact natural gas opportunities in
the Netherlands and Germany, and through oil drilling and workover
programs in France and
Australia. Vermilion also
holds an 18.5% working interest in the Corrib gas field in
Ireland. Vermilion pays a
monthly dividend of Canadian $0.215
per share, which provides a current yield of approximately
5%. Management and directors of Vermilion hold approximately
6% of the outstanding shares, are committed to consistently
delivering superior rewards for all stakeholders, and have
delivered over 20 years of market outperformance. Vermilion
trades on the Toronto Stock Exchange and the New York Stock
Exchange under the symbol VET.
TM denotes trademark of Canaccord Genuity Capital
Corporation.
SOURCE Vermilion Energy Inc.