Pengrowth Energy Corporation Confirms Cdn$0.04 Cash Dividend Payable June 16, 2014

Pengrowth Energy Corporation Confirms Cdn$0.04 Cash Dividend Payable June 16, 
CALGARY, ALBERTA -- (Marketwired) -- 05/13/14 --   Pengrowth Energy
Corporation (TSX: PGF)(NYSE: PGH) today announced that its June 16,
2014 cash dividend will be Cdn $0.04 per common share. The
ex-dividend date is May 21, 2014. The dividend will be payable to all
shareholders who hold Pengrowth shares at the close of business on
the record date of May 23, 2014.  
The dividend of Cdn $0.04 per common share is equivalent to
approximately U.S. $0.037 per common share using a Canadian/U.S.
dollar exchange rate of Cdn $1.00:U.S. $0.919. The actual U.S. dollar
equivalent of the dividend will be based upon the actual
Canadian/U.S. dollar exchange rate in effect on the payment date, net
of applicable Canadian withholding taxes for U.S. residents who hold
their Pengrowth shares in taxable accounts.  
The above dividend has been designated as an "eligible dividend" for
Canadian income tax purposes. Pengrowth's dividends are also
considered "qualified dividends" for U.S. income tax purposes.  
Pengrowth offers a Dividend Reinvestment Program (DRIP) that provides
eligible shareholders in Canada and the United States, with the
opportunity to reinvest their dividends in new shares at a five
percent discount to the average trading price (as calculated pursuant
to the DRIP plan). Additional information on the DRIP is available at 
Notice of Annual General Meeting: 
Pengrowth's 2014 annual meeting of shareholders will be held on June
24, 2014 at 3:00 P.M. Mountain Time at the Metropolitan Conference
Centre, located at 333 - Fourth Avenue SW, Calgary, Alberta.
Information circulars and proxy forms pertaining to this meeting are
expected to be mailed in late May to shareholders of record as of May
20, 2014.  
About Pengrowth:  
Pengrowth Energy Corporation is a dividend-paying, intermediate
Canadian producer of oil and natural gas, headquartered in Calgary,
Alberta. Pengrowth's assets include the Cardium light oil, Lindbergh
thermal bitumen and Swan Hills light oil projects. Pengrowth's shares
trade on both the Toronto Stock Exchange under the symbol "PGF" and
on the New York Stock Exchange under the symbol "PGH". 
Derek Evans, President and Chief Executive Officer 
Fred Kerr
Vice President, Investor Relations
Wassem Khalil
Manager, Investor Relations
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