|By Marketwired .||
|August 15, 2013 05:01 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 08/15/13 -- Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") confirms that the monthly cash dividend for the month of August in the amount of Cdn. $0.06 per common share will be paid on September 16, 2013 to shareholders of record on August 31, 2013.
Unless otherwise indicated, all dividends paid by Zargon are "eligible dividends" for Canadian tax purposes.
As stated in Zargon's August 8, 2013 press release, commencing with Zargon's September 2013 dividend payable on October 15, 2013, Zargon's Dividend Reinvestment Plan ("DRIP") will be suspended until further notice. The DRIP permits shareholders to apply their cash dividends to the purchase of Zargon common shares at 95 percent of the average market price. Shareholders who had elected to participate in the DRIP will receive cash dividends on the payment date. Shareholders that were enrolled in the DRIP when the plan is suspended will remain enrolled at reinstatement and will automatically resume participation in the DRIP if, and when, the DRIP is reinstated.
Based in Calgary, Alberta, Zargon's securities trade on the Toronto Stock Exchange and there are currently approximately 30.062 million common shares outstanding.
Zargon Oil & Gas Ltd. is a Calgary based oil and natural gas company working in the Western Canadian and Williston sedimentary basins that has delivered a long history of returns and dividends (distributions). Zargon's business is focused on oil exploitation projects that profitably increase oil production and recovery factors from existing oil reservoirs.
In order to learn more about Zargon, we encourage you to visit Zargon's website at www.zargon.ca where you will find a current shareholder presentation, financial reports and historical news releases.