Penn West Exploration Keeps Dividend Steady

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Investors can explore the opportunities available to them with the dividend announcement made by Canadian oil and gas producer Penn West Exploration , which said today it will pay a second-quarter dividend of $0.27 per share on July 15 to the holders of record at the close of business on June 28. This represents no change in payment

Penn West has consistently paid a quarterly dividend since 2005.

Penn West is one of the largest conventional oil and natural gas producers in Canada that also has a significant portfolio of light oil. Based in Calgary, Alberta, the oil and gas producer operates throughout western Canada on a land base of nearly 6 million acres.


The most recent dividend payment equates to a $1.08-per-share annual dividend yielding 11.7% based on the closing price of Penn West Exploration's stock on May 1.

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The article Penn West Exploration Keeps Dividend Steady originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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