CALGARY, Jan. 13, 2017 /PRNewswire/ - Vermilion Energy
Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash
dividend of $0.215 CDN per share
payable on February 15, 2017 to all
shareholders of record on January 24,
2017. The ex-dividend date for this payment is January 20, 2017. This dividend is an eligible
dividend for the purposes of the Income Tax Act (Canada).
We commenced prorating the Premium DividendTM
component of our Dividend Reinvestment Plan by 25%, beginning with
the dividend paid on October 17,
2016. We increased the proration factor by a further 25%
beginning with the January 16, 2017
dividend payment. Eligible shareholders who have elected to
participate in the Premium DividendTM component will
receive a 1.5% premium on 50% of their participating shares, and
the regular cash dividend on the remaining 50% of their
shares. Subject to unexpected changes in the commodity price
outlook, it is our intent to continue increasing the proration
during 2017, at the end of which there would be no further equity
issuance under the Premium DividendTM component of our
Dividend Reinvestment Plan.
About Vermilion
Vermilion is an international energy producer that seeks to
create value through the acquisition, exploration, development and
optimization of producing properties in North America, Europe and Australia. Our business model targets annual
organic production growth, along with providing reliable and
increasing dividends to investors. Vermilion is targeting growth in
production primarily through the exploitation of light oil and
liquids-rich natural gas conventional resource plays in
Canada and the United States, the exploration and
development of high impact natural gas opportunities in
the Netherlands and Germany, and through oil drilling and workover
programs in France and
Australia. Vermilion also holds an
18.5% working interest in the Corrib gas field in Ireland. Vermilion pays a monthly
dividend of Canadian $0.215 per
share, which provides a current yield of approximately
5%.
Vermilion's priorities are health and safety, the environment,
and profitability, in that order. Nothing is more important to
us than the safety of the public and those who work with us, and
the protection of our natural surroundings. We have been
recognized as a top decile performer amongst Canadian publicly
listed companies in governance practices, as a Climate "A" List
performer by the CDP, and a Best Workplace in the Great Place to
Work® Institute's annual rankings in Canada, France, the
Netherlands and Germany. In addition, Vermilion
emphasizes strategic community investment in each of our operating
areas.
Management and directors of Vermilion hold approximately 5% of
the outstanding shares, are committed to consistently delivering
superior rewards for all stakeholders, and have delivered over 20
years of market outperformance. Vermilion trades on the Toronto
Stock Exchange and the New York Stock Exchange under the symbol
VET.
TM denotes trademark of Canaccord Genuity Capital
Corporation.
SOURCE Vermilion Energy Inc.