NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Bonavista Energy Corporation
TSX SYMBOL: BNP
APRIL 15, 2014
Bonavista Energy Corporation Confirms Dividend for May 15, 2014
CALGARY, ALBERTA--(Marketwired - April 15, 2014) - Bonavista Energy Corporation
("Bonavista") (TSX:BNP) confirms that a dividend of $0.07 per common
share will be paid on May 15, 2014 to common shareholders of record on April
30, 2014. The ex-dividend date is April 28, 2014 with payment in cash or common
shares at the election of the shareholder. Any common shareholder choosing to
receive common shares instead of cash must submit his or her stock dividend
confirmation notice no later than 4:30 p.m. (Calgary time) on the fourth
business day immediately prior to the record date for the declared dividend
payment, being April 24, 2014.
Bonavista's dividend policy is reviewed monthly and is based on future
commodity prices, foreign exchange rates, our commodity hedging program,
current operations and future investment opportunities. This dividend has been
designated as an "eligible dividend" for Canadian income tax
Stock Dividend Program
Bonavista's Stock Dividend Program enables common shareholders to elect to
receive dividends in common shares calculated at 95% of the weighted average
trading price, for the five days immediately prior to the payment date.
Participation in the Stock Dividend Program is optional and all fees associated
with the Stock Dividend Program will be paid by Bonavista.
The Stock Dividend Program has certain tax advantages which are described in
more detail in Bonavista's Management Information Circular dated March 19,
2012 which is available on SEDAR at www.sedar.com and on Bonavista's
website at www.bonavistaenergy.com. For further information regarding the Stock
Dividend Program, please contact Valiant Trust Company at 403-233-2801.
Dividend Reinvestment Plan
Bonavista also has a Dividend Reinvestment Plan which enables eligible common
shareholders to increase their investment in Bonavista by reinvesting their
monthly cash dividend into common shares using the same price as determined for
the Stock Dividend Program. We expect to maintain the Dividend Reinvestment
Plan as a complement to our Stock Dividend Program indefinitely.
Forward Looking Statements
Corporate information provided herein contains forward-looking information. The
reader is cautioned that assumptions used in the preparation of such
information, particularly those pertaining to cash dividends, production
volumes, commodity prices, operating costs and drilling results, which are
considered reasonable by Bonavista at the time of preparation, may be proven to
be incorrect. Actual results achieved during the forecast period will vary from
the information provided herein and the variations may be material. There is no
representation by Bonavista that actual results achieved during the forecast
period will be the same in whole or in part as those forecasts.
FOR FURTHER INFORMATION PLEASE CONTACT:
Keith A. MacPhail
Jason E. Skehar
President & CEO
Glenn A. Hamilton
Senior Vice President & CFO
Bonavista Energy Corporation
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
INDUSTRY: Energy and Utilities - Oil and Gas
-0- Apr/15/2014 20:05 GMT
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