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Pengrowth Energy Corporation Announces Cdn$0.04 Cash Dividend Payable December 17, 2012

CALGARY, ALBERTA--(Marketwire - Nov 6, 2012) - Pengrowth Energy Corporation (PGF.TO) (PGH) today announced that its December 17, 2012 cash dividend will be Cdn $0.04 per common share. The ex-dividend date is November 19, 2012. The dividend will be payable to all shareholders who hold shares on the record date of November 21, 2012. 

The dividend of Cdn $0.04 per common share is equivalent to approximately U.S. $0.04 per common share using a Canadian/U.S. dollar exchange rate of Cdn$1.00:U.S.$1.00. The actual U.S. dollar equivalent of the dividend will be based upon the actual Canadian/U.S. dollar exchange rate in effect on the payment date, net of applicable Canadian withholding taxes for U.S. residents who hold their Pengrowth shares in taxable accounts.

The above dividend has been designated as an "eligible dividend" for Canadian income tax purposes. Pengrowth''s dividends are also considered "qualified dividends" for U.S. income tax purposes.

On November 1, 2012, Pengrowth announced the suspension of its Premium Dividend Reinvestment Program as a result of its current low share price. The Premium Dividend Reinvestment Program was available only to eligible Canadian shareholders. Pengrowth''s regular monthly cash dividend and regular Dividend Reinvestment Program (DRIP) are not affected by this action.

The DRIP program provides eligible shareholders in Canada and the United States, with the opportunity to reinvest their dividends in new shares at a five percent discount to the average trading price (as calculated pursuant to the Plan).

About Pengrowth:

Pengrowth Energy Corporation is a dividend-paying, intermediate Canadian producer of oil and natural gas, headquartered in Calgary, Alberta. Pengrowth''s assets include Swan Hills light oil, Cardium light oil and the Lindbergh thermal bitumen project. Pengrowth''s shares trade on both the Toronto Stock Exchange under the symbol "PGF" and on the New York Stock Exchange under the symbol "PGH".


Derek Evans, President and Chief Executive Officer

For further information about Pengrowth, please visit our website www.pengrowth.com.