HOUSTON, Oct. 1, 2015 /PRNewswire/ — Evolution Petroleum Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative Preferred Stock. The dividend is for the month of October 2015 and is payable on November 2, 2015 to holders of record at the close of business on October 15, 2015. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.
Expected Tax Treatment of Preferred Stock Dividends
Based on our current projections for the fiscal year ending June 30, 2016, we expect preferred stock dividends will be treated as qualified dividend income. We will make a final determination regarding the tax treatment of dividends for the current fiscal year when the tax reporting process in complete.
The Series A Preferred Stock is listed on the NYSE MKT under the ticker symbol “EPM.PRA.”
IPAA OGIS San Francisco Conference
Evolution Petroleum Corporation today announced that it will present at the Oil & Gas Investment Symposium hosted by the Independent Petroleum Association of America in San Francisco, to be held at the Palace Hotel on October 5-6, 2015.
Randall D. Keys, President and Chief Financial Officer, is scheduled to make a presentation on Monday, October 5, 2015 at 11:30 a.m. Pacific Time (2:30 p.m. Eastern Time). The presentation will be webcast live over the internet and can be accessed, along with the accompanying slides, from the “Investor Presentations” section of the Company’s website at www.evolutionpetroleum.com on the day of the event.
About Evolution Petroleum
Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Principal assets include interests in a CO2-EOR project in Louisiana’s Delhi Field and a patented technology designed to extend the life and increase ultimate recoveries of depletion drive oil and gas wells. Additional information, including the Company’s annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at www.evolutionpetroleum.com. Additional information regarding GARP® is available on the www.garplift.com website.
All statements contained in this press release regarding potential results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal claims, prices, future revenues, income, cash flows, dividends and other comments that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate. Many factors could cause actual results to differ materially from those included in the forward-looking statements.
Randy Keys, President and CFO
SOURCE Evolution Petroleum Corporation