CALGARY, Oct. 14, 2016 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash dividend of $0.215 CDN per share payable on November 15, 2016 to all shareholders of record on October 24, 2016. The ex-dividend date for this payment is October 20, 2016. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).
As previously announced, we commenced prorating the Premium DividendTM component of our Dividend Reinvestment Plan by 25%, beginning with the dividend paid on October 17, 2016. Eligible shareholders who have elected to participate in the Premium DividendTM component currently receive a 1.5% premium on 75% of their shares, and the regular cash dividend on the remaining 25% of their shares. Subject to unexpected changes in the commodity price outlook, it is our intent to continue increasing the proration during 2017, at the end of which there would be no further equity issuance under the Premium DividendTM component of our Dividend Reinvestment Plan.