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Equal Energy Ltd. Message Board

  • greyfoxrunnin greyfoxrunnin Jan 30, 2013 12:04 PM Flag

    Dividend instituted?

    One of the items in the lawsuit stating what Equal has done says "An annual dividend of 20 U.S. cents per share, paid quarterly, has been instituted." Am I missing something in this? That means figured on a per share price of three bucks the dividend rate would be 6.66%. If true, that is remarkable and perhaps not sustainable. Is there a dividend now?

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    • Management "announces" that EQU going to pay a $.20 dividend or 6.66% and the stock sells off. I'm guessin' no one believes them,.

    • No there is not a dividend now,
      What there is is a dividend "policy."
      Which, I guess, means they intend to have a dividend but haven't yet committed to it

      .Here's what I just got back from the CFO.:
      "At this time we haven’t set a defined dividend policy other than we plan to pay US$0.20 for calendar 2013"

      - see below

      --------------------------------------------------------------------------------------------------------------------------
      Marc,

      Thanks for your note.

      At this time we haven’t set a defined dividend policy other than we plan to pay US$0.20 for calendar 2013 on the basis of $0.05/quarter at the end of each calendar quarter. We obviously believe this level of dividend is sustainable over the long term.

      Our Q1 payment will be declared in mid-Feb with a record date of March 1 and payment date of March 31.

      Hope this helps.

      Dell Chapman | SVP Finance & CFO

    • Yes to answer your question about the dividend and very sustainable. Look at the amount of BOE/D this company is producing compared to similar companies in their peer group / market cap and you will see that EQU is doing just fine. The X Date will be announced soon on the first dividend of .05 for the first quarter.

 
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