Boston, MA 06/16/2014 (wallstreetpr) – Baytex Energy Corp (USA) (NYSE:BTE) has announced a cash dividend of $0.24 per common share for the month of June which is payable on July 15, 2014. The ex-dividend will be paid on June 26, 2014. The dividend is eligible for Income Tax Act of Canada.
If the amount is converted in USD, then it comes up around US$0.2212 per share (foreign exchange rate has been assumed as $0.9216 USD/CAD). The actual dividend payable to all those investors who hold through any brokerage firm will be based on the effective exchange rate on the day of payment and net income tax applicable according to Canadian Income Tax Act.
All the registered shareholders are paid directly through the transfer agent of Baytex Energy Corp (USA) (NYSE:BTE) named Valiant Trust Company. Annualized dividend of the company is $2.88 per share which reflects a yield of 6.0% on YOY basis. BTE also offers a re-investment plan for all the registered shareholders of the company. In the plan, all the investors can re-invest their monthly dividend and in return they can acquire additional common shares of the company. It is an excellent cost effective and growth plan which offers an opportunity of accumulating common shares to all the investors.
Baytex Energy Corp (USA) (NYSE:BTE) is a Calgary based oil and gas producing and marketing company. It is engaged in several activities as production, development and acquisition of natural gas and crude oil in the Eagle Ford and Williston Basin and Western Canadian Sedimentary Basin in United States of America. 86% of its total production revolves around liquid and natural gas production. It is one of those companies that pay the dividend on common stocks on a monthly basis. Meanwhile after going through the financial results of BTE and the decisions taken by it in recent months, Scotiabank has decided to give it a sector outperform rating.
