Bonavista Energy Corporation Confirms Dividend for April 16, 2012
March 15 2012 - 4:01PM
Marketwired
Bonavista Energy Corporation (TSX:BNP) ("Bonavista") confirms that
its monthly cash dividend generated from March production will be
$0.12 per common share, payable on April 16, 2012. Our objective is
to set a prudent dividend policy that provides an attractive cash
return to our shareholders, while reinvesting the remainder of our
funds from operations to increase our production and equity value.
This in turn, will strengthen our asset base, which will allow for
consistent or modestly increasing dividend levels in the future.
Our dividend policy is reviewed monthly and is based on a number of
factors including current and future commodity prices, foreign
exchange rates, our commodity hedging program, current operations
and future investment opportunities. We continually monitor the
impact of all these factors and adjust our dividend and capital
programs as conditions dictate.
Bonavista has declared this dividend to be paid on April 16,
2012 to common shareholders of record on March 31, 2012, with an
ex-dividend date of March 28, 2012.
This dividend has been designated as an "eligible dividend" for
Canadian income tax purposes.
Dividend Reinvestment Plan
Bonavista has in place a Dividend Reinvestment Plan ("DRIP")
that provides for a convenient and cost-effective method for
eligible common shareholders to increase their investment in
Bonavista by reinvesting their monthly cash dividend to acquire
additional common shares of Bonavista. For further information
regarding our DRIP, please visit Bonavista's website at
www.bonavistaenergy.com or contact Valiant Trust Company at
403-233-2801.
Forward Looking Statements
Corporate information provided herein contains forward-looking
information. The reader is cautioned that assumptions used in the
preparation of such information, particularly those pertaining to
cash dividends, production volumes, commodity prices, operating
costs and drilling results, which are considered reasonable by
Bonavista at the time of preparation, may be proven to be
incorrect. Actual results achieved during the forecast period will
vary from the information provided herein and the variations may be
material. There is no representation by Bonavista that actual
results achieved during the forecast period will be the same in
whole or in part as those forecasts.
Contacts: Keith A. MacPhail Chairman & CEO (403) 213-4300
Jason E. Skehar President & COO (403) 213-4300 Glenn A.
Hamilton Senior Vice President & CFO (403) 213-4300 Bonavista
Energy Corporation 1500, 525 - 8th Avenue SW Calgary, AB T2P 1G1
(403) 213-4300 www.bonavistaenergy.com