Company: Gibson Energy IncStock Name: GEIAmount: CAD 0.25
Announcement Date: 06/03/2012
Record Date: 28/03/2012
Dividend Detail:
All financial figures are in Canadian dollars unless otherwise noted
CALGARY, March 6, 2012 /CNW/ - Gibson Energy Inc. ("Gibson"), (TSX:
GEI), announced today that its Board of Directors has declared a
quarterly dividend of $0.25 per common share for the quarter ending
March 31, 2012 on its outstanding common shares. The common share
dividend is payable on April 17, 2012 to shareholders of record at the
close of business on March 30, 2012.
This quarterly dividend reflects a 4.2% increase from the prior
quarterly rate. On an annualized basis, dividends will increase from
$0.96 per share to $1.00 per share. "The dividend increase announced
today is the first since we closed our initial public offering in June,
2011," said Stewart Hanlon, President and Chief Executive Officer.
"Although we are relatively new to the public markets, we're confident
that when we combine the assets we've established over several decades
with our attractive growth opportunities; we can continue to generate
steady and diversified cash flow across various commodity cycles."
About Gibson
Gibson is one of the largest independent midstream energy companies in
Canada and a major participant in the crude oil transportation business
in the United States, and is engaged in the movement, storage,
blending, processing, marketing and distribution of crude oil,
condensate, natural gas liquids, and refined products. Gibson
transports hydrocarbons by utilizing its integrated network of
terminals, pipelines, storage tanks, and truck fleet located throughout
western Canada and the United States. Additionally, Gibson, through its
Canwest Propane subsidiary, is the second largest retail propane
distribution company in Canada.
Forward-Looking Statements
Certain statements contained in this news release constitute
forward-looking information and statements (collectively,
"forward-looking statements") including, but not limited to, statements
concerning the Company's future payment of dividends and management's
expectations with respect to the Company's business and financial
prospects and opportunities. These statements relate to future events
or the Company's future performance. All statements other than
statements of historical fact are forward-looking statements. The use
of any of the words "anticipate", "plan", "contemplate", "continue",
"estimate", "expect", "intend", "propose", "might", "may", "will",
"shall", "project", "should", "could", "would", "believe", "predict",
"forecast", "pursue", "potential" and "capable" and similar expressions
are intended to identify forward-looking statements. These statements
involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those
anticipated in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not be
unduly relied upon. These statements speak only as of the date of this
news release. The Company does not undertake any obligations to
publicly update or revise any forward looking statements except as
required by securities law. Actual results could differ materially from
those anticipated in these forward-looking statements as a result of
numerous risks and uncertainties including, but not limited to, the
risks and uncertainties described in "Forward-Looking Statements" and
"Risk Factors" included in the Company's Supplemented Prep Prospectus
dated June 7, 2011 as filed on SEDAR and available on the Gibson
website at www.gibsons.com href="http://www.gibsons.com/">.
For further information:
Ken Hall
Vice President Investor Relations and Communications
(403) 781-2899
ken.hall@gibsons.com
