CALGARY, AB, Feb. 22, 2022 /PRNewswire/ – Gibson Energy Inc. announced today that its Board of Directors has approved a quarterly dividend of $0.37 per common share, an increase of $0.02 per common share, which will be payable on April 14, 2022, to shareholders of record at the close of business on March 31, 2022. 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.
“With the continued growth of our long-term, stable cash flows from our Infrastructure segment, which increased 17% year over year, we are pleased to continue the consistent, annual growth of our dividend,” said Steve Spaulding, President and Chief Executive Officer. “The larger increase relative to prior years is reflective of our continued adherence to our stated capital allocation approach as well as our Financial Governing Principles, which help ensure our strong financial position. In particular, the continued growth of our Infrastructure segment has further reduced our Infrastructure-only payout and leverage metrics and we remain fully-funded for all anticipated capital growth without needing to rely on the variable part of our business.”
About Gibson
Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), is a Canadian-based liquids infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products. Headquartered in Calgary, Alberta, the Company’s operations are focused around its core terminal assets located at Hardisty and Edmonton, Alberta, and include the Moose Jaw Facility and an infrastructure position in the U.S.
Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com.