Gibson Energy Inc. Declares Dividend and Announces Dividend Increase
CALGARY, March 5, 2013
All financial figures are in Canadian dollars
CALGARY, March 5, 2013 /PRNewswire/ - Gibson Energy Inc. ("Gibson"), TSX: GEI,
announced today that its Board of Directors has approved a quarterly dividend
of $0.275 per common share to shareholders of record at the close of business
on March 29^th, 2013 and is payable on April 17, 2013. This dividend is
designated as an eligible dividend for Canadian income tax purposes. For
non-resident shareholders, Gibson's dividends are subject to Canadian
This quarterly dividend reflects a 5.8% increase from the prior quarterly
rate. "The dividend increase announced today is the third since we completed
our initial public offering in June, 2011," said Donald Fowlis, Chief
Financial Officer. "The consistent performance of our diversified, integrated
and growing asset base over this time period provides us with confidence that
we will be able to continue to generate steady and growing cash flows across
varying energy pricing cycles."
Gibson is one of the largest independent midstream energy companies in Canada
and an integrated service provider to the oil and gas industry in the United
States. Gibson is engaged in the movement, storage, blending, processing,
marketing and distribution of crude oil, condensate, natural gas liquids,
water, oilfield waste and refined products. Gibson transports energy products
by utilizing its network of terminals, pipelines, storage tanks, and trucks
located throughout western Canada and through its significant truck
transportation and injection station network in the United States. Gibson
also provides emulsion treating, water disposal and oilfield waste management
services in Canada and the United States and is the second largest retail
propane distribution company in Canada.
Certain statements contained in this news release constitute forward-looking
information and statements (collectively, "forward-looking statements"). These
statements relate to future events or the Company's future performance. All
statements other than statements of historical fact are forward-looking
statements. The use of any of the words ''anticipate'', ''plan'',
''contemplate'', ''continue'', ''estimate'', ''expect'', ''intend'',
''propose'', ''might'', ''may'', ''will'', ''shall'', ''project'', ''should'',
''could'', ''would'', ''believe'', ''predict'', ''forecast'', ''pursue'',
''potential'' and ''capable'' and similar expressions are intended to identify
forward-looking statements. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
No assurance can be given that these expectations will prove to be correct and
such forward-looking statements included in this news release should not be
unduly relied upon. These statements speak only as of the date of this news
release. The Company does not undertake any obligations to publicly update or
revise any forward looking statements except as required by securities law.
Actual results could differ materially from those anticipated in these
forward-looking statements as a result of numerous risks and uncertainties
including, but not limited to, the risks and uncertainties described in
"Forward-Looking Statements" and "Risk Factors" included in the Company's
Annual Information Form dated March5, 2013 as filed on SEDAR and available on
the Gibson website at www.gibsons.com.
SOURCE Gibson Energy Inc.
Vice President Investor Relations and Communications
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