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Pengrowth Keeps Dividend Steady


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Oil and gas producer Pengrowth Energy announced today its September dividend of $0.04 Canadian per share, the same rate it's paid for the past year after slashing the payout 43% from $0.07 per share.

The board of directors said the quarterly dividend is payable on September 16 to holders of record at the close of business on August 22. The dividend is equivalent to approximately U.S. $0.039 per share using a dollar exchange rate of $0.971. The actual U.S. dollar equivalent of the dividend will be based upon the actual exchange rate in effect on the payment date

The dividend is designated as an "eligible dividend" for Canadian income tax purposes and are also considered "qualified dividends" for U.S. income tax purposes..

The regular dividend payment equates to about a $0.47-per-share annual dividend, yielding 8.1% based on the closing price today of Pengrowth Energy's stock.

PGH Dividend Chart

PGH Dividend data by YCharts.

The article Pengrowth Keeps Dividend Steady originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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