Pengrowth Energy Corporation Announces Cdn$0.04 Cash Dividend

Pengrowth Energy Corporation Announces Cdn$0.04 Cash Dividend Payable
December 17, 2012 
CALGARY, ALBERTA -- (Marketwire) -- 11/06/12 -- Pengrowth Energy
Corporation (TSX:PGF) (NYSE: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". 
PENGROWTH ENERGY CORPORATION  
Derek Evans, President and Chief Executive Officer 
For further information about Pengrowth , please visit our website
www.pengrowth.com.
Contacts:
Pengrowth
Investor Relations
(403) 233-0224 or Toll Free: 1-888-744-1111
investorrelations@pengrowth.com
www.pengrowth.com