GeoMet Declares Preferred Dividend
HOUSTON, TX -- (Marketwired) -- 12/03/13 -- GeoMet, Inc. (OTCQB:
GMET) (NASDAQ: GMETP) (the "Company") announced today that its Board
of Directors has declared a quarterly dividend to its preferred
stockholders covering the period October 1, 2013 through December 31,
2013 to be paid through the issuance of .03125 preferred share ("PIK
Preferred Shares") per outstanding share of preferred stock. The
dividend has been calculated at an annual rate of 12.5%. Should the
calculation of the dividend of PIK Preferred Shares to any preferred
stockholder result in a fractional share, the portion of the dividend
attributable to such fractional share will be paid in cash. The
aggregate amount of cash paid for all fractional shares will be
nominal. The dividend will be paid on December 31, 2013 to preferred
stockholders of record on December 13, 2013. In the aggregate, it is
estimated that approximately 181,000 preferred shares will be issued
in connection with this dividend.
About GeoMet, Inc.
GeoMet, Inc. is engaged in the production of natural gas from coal
seams ("coalbed methane"). Our principal operations and producing
properties are located in the Central Appalachian Basin in Virginia
and West Virginia.
For more information please contact:
Stephen M. Smith
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