Petrus Resources Announces Monthly Dividend
Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) has recently confirmed an exciting development for its shareholders—the declaration of a monthly dividend. With a set amount of $0.01 per share, this dividend is scheduled to be payable to shareholders, marking another positive step in the company’s commitment to its investors.
Dividend Payment Details
The dividend payment will occur on January 31, and shareholders of record will need to ensure they are listed by January 15 to be eligible. This payment is particularly notable as it qualifies as an eligible dividend for Canadian income tax purposes, enhancing its value for Canadian investors.
Understanding the Dividend Reinvestment Plan (DRIP)
Petrus Resources offers a Dividend Reinvestment Plan (DRIP) which provides eligible shareholders an opportunity to reinvest their cash dividends into additional common shares of the company. This initiative allows shareholders to increase their investment in Petrus while enjoying the benefits of compounding growth.
Participation in the DRIP
Participation in the DRIP is entirely optional. Eligible shareholders who choose to enroll in this plan will benefit from acquiring additional shares at a 3% discount from the market price, providing an attractive incentive for investment growth.
How to Enroll in the DRIP
For registered shareholders interested in joining the DRIP, it’s essential to deliver a fully completed enrollment form to Odyssey Trust Company (“Odyssey”) before the specified deadline. This date is set for 4:00 p.m. Calgary time on the fifth business day before a dividend record date. Meanwhile, beneficial shareholders should reach out to their brokers or nominees to explore their eligibility and obtain the necessary enrollment instructions.
Potential Restrictions for Shareholders
Shareholders residing outside of Canada may face certain restrictions regarding their participation in the DRIP. Therefore, it is crucial for these investors to understand their specific eligibility criteria and any implications for their investments.
More Information on the DRIP
A more comprehensive overview of the Dividend Reinvestment Plan can be found on Petrus Resources’ official website. Additionally, podium materials such as the enrollment form and other useful information are available through Odyssey’s website. Should shareholders need further assistance or clarification, they can easily reach out to Odyssey by phone.
About Petrus Resources
Petrus Resources is a dedicated public Canadian oil and gas entity concentrated on property exploitation, strategic acquisitions, and meticulous exploratory efforts in Alberta. Its focus on these core areas underscores the company's strategy of growing and managing its asset portfolio effectively.
Contact Information for Further Inquiries
To ensure a direct line of communication, shareholders can contact Ken Gray, the President and Chief Executive Officer of Petrus Resources, at 403-930-0889 for any questions regarding the dividend or the company’s strategic direction. He remains committed to keeping shareholders informed of all developments, fostering transparency and trust.
Frequently Asked Questions
What is the amount of the declared monthly dividend?
The declared monthly dividend is $0.01 per share.
When will the dividend be paid?
The dividend payment will be made on January 31, pending shareholders being recorded by January 15.
What is the benefit of the DRIP for investors?
The DRIP allows shareholders to reinvest dividends into additional shares at a 3% discount from the market price, promoting investment growth.
How can shareholders enroll in the DRIP?
Registered shareholders must submit an enrollment form to Odyssey Trust Company before the designated deadline prior to the dividend record date.
Are there restrictions for overseas shareholders in the DRIP?
Yes, shareholders not residing in Canada may face restrictions when participating in the DRIP, and should seek clarity on their eligibility.
