Bonavista Energy Corporation Confirms Dividend for May 15, 2014
CALGARY, ALBERTA -- (Marketwired) -- 04/15/14 -- 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 purposes.
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
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
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