CALGARY, Feb. 16, 2016 /CNW/ – (ARX – TSX) ARC Resources Ltd. (“ARC”) confirms that an eligible dividend of $0.05 per share will be paid on March 15, 2016 to shareholders of record on February 29, 2016. The ex-dividend date is February 25, 2016. As at February 17, 2016 the trailing twelve-month payments to investors, including the February 16, 2016 payment, total $1.20 per share.
ARC's Board of Directors approved a monthly dividend of $0.05 per share on February 10, 2016, down from the previous monthly level of $0.10 per share. Right-sizing the dividend reduces ARC's funding requirements by approximately $200 million annually, preserves balance sheet strength and better aligns dividends declared to expected funds from operations at current commodity prices.
ARC offers a Dividend Reinvestment Plan (“DRIP”) and Stock Dividend Program (“SDP”) as optional plans for its shareholders. The DRIP provides the option for Canadian holders of ARC common shares to have their cash dividends reinvested into additional common shares of ARC. The SDP provides the option for shareholders to receive dividends in the form of common shares of ARC in lieu of receiving a cash dividend on the dividend payment date. Common shares issued under the DRIP and SDP are issued at a three per cent discount to the prevailing market price with no broker fees or commissions. Participation in the DRIP and/or SDP is optional; shareholders who do not wish to participate in either plan will continue to receive cash dividends. Additional information on the DRIP and SDP including the Dividend Reinvestment/Stock Dividend Enrollment Form can be found on the company's website at www.arcresources.com or by contacting your financial institution or investment advisor. The availability of the SDP and DRIP and the respective terms and conditions are subject to the discretion of ARC's management and the Board of Directors.
ARC is one of Canada's largest conventional oil and gas companies with an enterprise value of approximately $7.4 billion. ARC's common shares trade on the TSX under the symbol ARX.
ADVISORY – In the interests of providing ARC shareholders and potential investors with information regarding ARC, including Management's assessment of ARC's future plans and operations, certain information contained in this document are forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, including those risks and uncertainties contained in ARC Resources Ltd.'s Annual Information Form filed at www.sedar.com, which may cause ARC's actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements.
ARC RESOURCES LTD.
Myron M. Stadnyk
President and Chief Executive Officer
SOURCE ARC Resources Ltd.
