ARC Resources Ltd. confirms June 17, 2013 dividend amount
CALGARY, May 16, 2013
CALGARY, May 16, 2013 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") confirms that a dividend of $0.10 per share
designated as an eligible dividend will be paid on June 17, 2013 to
shareholders of record on May 31, 2013. The ex-dividend date is May
29, 2013. As at May 16, 2013 the trailing twelve-month payments to
investors, including the May 15, 2013 payment, total $1.20 per share.
On May 15, 2013 at its Annual and Special Meeting, ARC's shareholders
approved the implementation of a Stock Dividend Program ("SDP"). The
SDP provides an additional option to ARC's shareholders with respect to
the receipt of dividends. The SDP will enable shareholders to receive
dividends in the form of common shares of ARC in lieu of receiving a
cash dividend on the dividend payment date. Common shares issued under
the SDP are issued at a five per cent discount to the prevailing market
price, as defined under the company's SDP, with no broker fees or
Participation in the SDP or ARC's Dividend Reinvestment Plan ("DRIP") is
optional. Shareholders will continue to receive dividend payments in
cash unless they choose to participate in the SDP or DRIP. The SDP will
take effect for the May 31, 2013 record date with the first stock
dividend expected to be issued on approximately June 17, 2013.
The SDP will generally be available to most shareholders and is expected
to provide many shareholders with Canadian income tax treatment that is
more favourable than ARC's existing DRIP. Shareholders, wherever
resident, are encouraged to consult their own tax advisors regarding
the tax consequences to them of receiving cash or stock dividends.
ARC's DRIP provides the option for Canadian holders of ARC common shares
to have their dividends reinvested into additional common shares of
ARC. Common shares issued under the DRIP are issued at a five per cent
discount to the prevailing market price, as defined under the company's
DRIP, with no broker fees or commissions.
Additional information on the SDP and DRIP including the Dividend
Reinvestment/Stock Dividend Enrollment Form can be found on the
company's website at www.arcresources.com or by contacting your financial institution or investment advisor. The
availability of the SDP and DRIP and the respective terms and
conditions are subject to the discretion of ARC's management and the
Board of Directors.
ARC is one of Canada's largest conventional oil and gas companies with
an enterprise value of approximately $9 billion. ARC's common shares
trade on the TSX under the symbol ARX.
ADVISORY - In the interests of providing ARC shareholders and potential
investors with information regarding ARC, including management's
assessment of ARC's future plans and operations, certain information
contained in this document are forward-looking statements within the
meaning of the "safe harbour" provisions of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general
and specific, that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will not
occur, including those risks and uncertainties contained in ARC
Resources Ltd.'s Annual Information Form filed at www.sedar.com, which may cause ARC's actual performance and financial results in
future periods to differ materially from any estimates or projections
of future performance or results expressed or implied by such
ARC RESOURCES LTD.
Myron M. Stadnyk
President and Chief Executive Officer