CALGARY, Sept. 12, 2016 /PRNewswire/ - Vermilion
Energy Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce a
cash dividend of $0.215 CDN per share
payable on October 17, 2016 to all
shareholders of record on September 22,
2016. The ex-dividend date for this payment is
September 20, 2016. This
dividend is an eligible dividend for the purposes of the Income Tax
Act (Canada).
As previously announced, we will be prorating the Premium
DividendTM component of our Dividend Reinvestment Plan
by 25%, beginning with the dividend payable on October 17, 2016. Eligible shareholders who
have elected to participate in the Premium DividendTM
component will continue to receive a 1.5% premium on 75% of their
shares, and will receive the regular cash dividend on the remaining
25% of their shares. Subject to unexpected changes in the
commodity price outlook, it is our intent to continue increasing
the proration during 2017, at the end of which there would be no
further equity issuance under the Premium DividendTM
component of our Dividend Reinvestment Plan.
Vermilion is an international energy producer that seeks to
create value through the acquisition, exploration, development and
optimization of producing properties in North America, Europe and Australia. Our business model targets
annual organic production growth, along with providing reliable and
increasing dividends to investors. Vermilion is targeting
growth in production primarily through the exploitation of light
oil and liquids-rich natural gas conventional resource plays in
Canada and the United States, the exploration and
development of high impact natural gas opportunities in
the Netherlands and Germany, and through oil drilling and workover
programs in France and
Australia. Vermilion also
holds an 18.5% working interest in the Corrib gas field in
Ireland. Vermilion pays a
monthly dividend of Canadian $0.215
per share, which provides a current yield of approximately 5%.
Management and directors of Vermilion hold approximately 6%
of the outstanding shares, are committed to consistently delivering
superior rewards for all stakeholders, and have delivered over 20
years of market outperformance. Vermilion trades on the
Toronto Stock Exchange and the New York Stock Exchange under the
symbol VET.
TM denotes trademark of Canaccord Genuity Capital
Corporation.
SOURCE Vermilion Energy Inc.