CALGARY, Nov. 10, 2016 /CNW/ - Vermilion Energy Inc.
("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash
dividend of $0.215 CDN per share
payable on December 15, 2016 to all
shareholders of record on November 22,
2016. The ex-dividend date for this payment is
November 18, 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
participating 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.
About Vermilion
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%.
Vermilion's priorities are health and safety, the environment,
and profitability, in that order. Nothing is more important
to us than the safety of the public and those who work with us, and
the protection of our natural surroundings. We have been
recognized as a top decile performer amongst Canadian publicly
listed companies in governance practices, as a Climate "A" List
performer by the CDP, and a Best Workplace in the Great Place to
Work® Institute's annual rankings in Canada, France, the
Netherlands and Germany. In addition, Vermilion
emphasizes strategic community investment in each of our operating
areas.
Management and directors of Vermilion hold approximately 5% 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.