|By Marketwired .||
|May 15, 2014 04:01 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/15/14 -- Bonavista Energy Corporation (TSX: BNP) ("Bonavista") confirms that a dividend of $0.07 per common share will be paid on June 16, 2014 to common shareholders of record on May 30, 2014. The ex-dividend date is May 28, 2014 with payment in cash or common shares at the election of the shareholder.
Bonavista's dividend policy is reviewed monthly and is based on future commodity prices, foreign exchange rates, our commodity hedging program, current operations and future investment opportunities. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
Dividend Reinvestment Plan and Stock Dividend Program Suspension
On May 1, 2014 Bonavista announced that commencing with its May 2014 dividend payable on June 16, 2014, its Dividend Reinvestment Plan ("DRIP") and Stock Dividend Program ("SDP") will be suspended until further notice. As outlined in the notices mailed to shareholders on May 6, 2014, current participants in the DRIP and/or SDP need not take any further action, and will remain enrolled in the DRIP and/or SDP. The May dividend, payable on June 16, 2014 will either be direct credited to shareholders bank accounts or paid by cheque. Future dividends will be re-invested, if, and when the DRIP and/or SDP resumes, in accordance with shareholders previous instructions.
Bonavista is a mid-sized energy corporation committed to maintaining its emphasis on operating high quality oil and natural gas properties, providing moderate growth and delivering consistent dividends to its shareholders and ensuring financial strength and sustainability.
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.
Keith A. MacPhail
Jason E. Skehar
President & CEO
Glenn A. Hamilton
Senior Vice President & CFO
Bonavista Energy Corporation
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1