Vermilion Energy Inc. (“Vermilion”) (TSX, NYSE: VET) is pleased to announce a cash dividend of $0.215 CDN per share payable on May 15, 2017 to all shareholders of record on April 24, 2017. The ex-dividend date for this payment is April 20, 2017. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).
As quoted in the press release:
We commenced prorating the Premium DividendTM component of our Dividend Reinvestment Plan by 25%, beginning with the dividend paid on October 17, 2016, and announced a further 25% proration starting with the dividend paid on January 17, 2017. We have increased the proration factor by a further 25% beginning with the April 17, 2017 dividend payment. Eligible shareholders who have elected to participate in the Premium DividendTM component will receive a 1.5% premium on 25% of their participating shares, and the regular cash dividend on the remaining 75% of their shares. Subject to unexpected changes in the commodity price outlook, it is our intent to discontinue the Premium DividendTM component beginning with the July 2017 dividend payment, such that there would be no further equity issuance under the Premium DividendTM component of our Dividend Reinvestment Plan.