Baytex Confirms Monthly Dividend for January at $0.22 Per Share
CALGARY, ALBERTA -- (Marketwire) -- 01/15/13 -- Baytex Energy Corp.
(TSX:BTE) (NYSE:BTE) announces that a cash dividend of $0.22 per
common share in respect of January operations will be paid on
February 15, 2013 to shareholders of record on January 31, 2013. The
ex-dividend date is January 29, 2013. This dividend is an eligible
dividend for the purposes of the Income Tax Act (Canada).
The U.S. dollar equivalent dividend amount is approximately US$0.2236
per share assuming a foreign exchange rate of 1.0163 USD/CAD. The
actual U.S. dollar equivalent dividend for shareholders who hold
through a brokerage firm will be based on the exchange rate in effect
on the payment date and net of applicable Canadian withholding taxes.
Registered shareholders are paid directly by Baytex's transfer agent,
Valiant Trust Company, and the actual U.S. dollar equivalent dividend
will be based on the exchange rate in effect on the record date and
net of applicable Canadian withholding taxes.
The annualized dividend of $2.64 per share represents a dividend
yield of approximately 6.0% based on the closing price of our common
shares on the Toronto Stock Exchange on January 14, 2013 of $44.27.
Baytex has a Dividend Reinvestment Plan that provides a convenient
and cost-effective method for eligible holders in Canada and the
United States to maximize their investment in Baytex by reinvesting
their monthly cash dividends to acquire additional common shares. For
further information regarding the Dividend Reinvestment Plan, please
visit our website at www.baytex.ab.ca or contact Valiant Trust
Company at 1-866-313-1872.
Baytex Energy Corp. is a dividend-paying oil and gas corporation
based in Calgary, Alberta. The company is engaged in the acquisition,
development and production of crude oil and natural gas in the
Western Canadian Sedimentary Basin and in the Williston Basin in the
United States. Approximately 88% of Baytex's production is weighted
toward crude oil, with a particular emphasis on heavy oil. Baytex
pays a monthly dividend on its common shares which are traded on the
Toronto Stock Exchange and the New York Stock Exchange under the
symbol BTE. For further information about Baytex, please visit our
website at www.baytex.ab.ca.
All dollar amounts in this press release are Canadian dollars unless
Baytex Energy Corp.
Vice President, Investor Relations
Toll Free Number: 1-800-524-5521
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