Shoreline Energy Corp. Declares Q3 2011 Dividend
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 08/05/11 -- Shoreline Energy Corp. ("Shoreline") (TSX: SEQ) pleased to announce the declaration of Q3 2011 cash dividend to common shareholders of Cdn$0.20 per share per quarter as follows:
(i) The dividend is considered an "eligible dividend" for tax purposes.
Shoreline expects to pay a sustainable dividend on a quarterly basis, provided however that any decision to pay dividends on the common shares will be made by the Board of Directors on the basis of Shoreline's cash flow from operating activities, earnings, financial requirements, commodity price levels, legal requirements and other conditions existing at such future times. Shoreline currently intends to designate all dividends to be "eligible dividends" for the purposes of the Income Tax Act (Canada) such that shareholders who are individuals will benefit from the enhanced gross-up and dividend tax credit mechanism under the Income Tax Act (Canada).
Shoreline has approximately 3,838,000 common shares outstanding, which trade on the TSX under the symbol SEQ.
A corporate presentation is available on Shorelines website at .
Contacts:
Shoreline Energy Corp.
Trevor Folk
Chief Executive Officer
(403) 398-4070
Shoreline Energy Corp.
Daniel Grisdale
Chief Financial Officer
(403) 398-4080
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Datum: 05.08.2011 - 07:19 Uhr
Sprache: Deutsch
News-ID 1028012
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Oil & Gas
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