Pengrowth Keeps Dividend Steady
Oil and gas producer Pengrowth Energy announced today its September dividend of $0.04 Canadian per share, the same rate it's paid for the past year after slashing the payout 43% from $0.07 per share.
The board of directors said the dividend is payable on September 16 to holders of record at the close of business on August 22. The dividend is equivalent to approximately U.S. $0.039 per share using a dollar exchange rate of $0.971. The actual U.S. dollar equivalent of the dividend will be based upon the actual exchange rate in effect on the payment date
The dividend is designated as an "eligible dividend" for Canadian income tax purposes and are also considered "qualified dividends" for U.S. income tax purposes..
The regular dividend payment equates to about a $0.47-per-share annual dividend, yielding 8.1% based on the closing price today of Pengrowth Energy's stock.
Editor's note: A previous version of this article incorrectly said the dividend was quarterly.
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