All financial figures are in Canadian dollars
CALGARY, March 5, 2013 /CNW/ - Gibson Energy Inc. ("Gibson"), TSX: GEI,
announced today that its Board of Directors has approved a quarterly
dividend of $0.275 per common share to shareholders of record at the
close of business on March 29th, 2013 and is payable on April 17, 2013. This dividend is designated as
an eligible dividend for Canadian income tax purposes. For
non-resident shareholders, Gibson's dividends are subject to Canadian
withholding tax.
This quarterly dividend reflects a 5.8% increase from the prior
quarterly rate. "The dividend increase announced today is the third
since we completed our initial public offering in June, 2011," said
Donald Fowlis, Chief Financial Officer. "The consistent performance of
our diversified, integrated and growing asset base over this time
period provides us with confidence that we will be able to continue to
generate steady and growing cash flows across varying energy pricing
cycles."
About Gibson
Gibson is one of the largest independent midstream energy companies in
Canada and an integrated service provider to the oil and gas industry
in the United States. Gibson is engaged in the movement, storage,
blending, processing, marketing and distribution of crude oil,
condensate, natural gas liquids, water, oilfield waste and refined
products. Gibson transports energy products by utilizing its network
of terminals, pipelines, storage tanks, and trucks located throughout
western Canada and through its significant truck transportation and
injection station network in the United States. Gibson also provides
emulsion treating, water disposal and oilfield waste management
services in Canada and the United States and 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"). 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 Annual Information Form dated
March 5, 2013 as filed on SEDAR and available on the Gibson website at www.gibsons.com.
SOURCE: Gibson Energy Inc.