Baytex Energy Corp. (TSX:BTE) (NYSE: BTE) announces that a cash dividend of
$0.22 per common share in respect of April operations will be paid on May 15,
2012 to shareholders of record on April 30, 2012. The ex-dividend date is April
26, 2012. This dividend is an eligible dividend for the purposes of the Income
Tax Act (Canada).
The U.S. dollar equivalent dividend amount is approximately US$0.2205 per share
assuming a foreign exchange rate of 1.0021 USD/CAD. The actual U.S. dollar
equivalent dividend for shareholders who hold through a brokerage firm will be
based on the exchange rate in effect on the payment date and net of applicable
Canadian withholding taxes. Registered shareholders are paid directly by
Baytex's transfer agent, Valiant Trust Company, and the actual U.S. dollar
equivalent dividend will be based on the exchange rate in effect on the record
date and net of applicable Canadian withholding taxes.
The annualized dividend of $2.64 per share represents a dividend yield of
approximately 5.3% based on the closing price of our common shares on the
Toronto Stock Exchange on April 13, 2012 of $49.40.
Baytex has a Dividend Reinvestment Plan that provides a convenient and
cost-effective method for eligible holders in Canada and the United States to
maximize their investment in Baytex by reinvesting their monthly cash dividends
to acquire additional common shares. For further information regarding the
Dividend Reinvestment Plan, please visit our website at www.baytex.ab.ca or
contact Valiant Trust Company at 1-866-313-1872.
The common shares of Baytex Energy Corp. are traded on the Toronto Stock
Exchange and the New York Stock Exchange under the trading symbol BTE.
All dollar amounts in this press release are Canadian dollars unless otherwise