CALGARY, Alberta, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce a special cash dividend of $0.165 per share which will be paid on October 5, 2018. The record date for the dividend is October 2, 2018 and the ex-dividend date is October 1, 2018. The special cash dividend is a one-time distribution to Razor’s shareholders of record.
With continued financial and operational strength, the Board of Directors has deemed a special dividend, in conjunction with Razor’s share buyback plan, an appropriate next step in enhancing overall shareholder yield.
The dividend is considered an "eligible dividend" for tax purposes.
Razor is a publicly-traded junior oil and gas development and production company headquartered in Calgary, Alberta, concentrated on acquiring, and subsequently enhancing, producing oil and gas properties primarily in Alberta. The Company is led by experienced management and a strong, committed Board of Directors, with a long-term vision of growth and distributions to shareholders, focused on efficiency and cost control in all areas of the business.
Razor started operations in the first quarter of 2017, through an acquisition of producing assets in the Swan Hills area. In the second quarter of 2017, Razor added to its base with the acquisition of complementary assets in the Kaybob area. These predominantly light oil assets provide a foundation for strong shareholder return through abundant low risk operations. Razor plans to concurrently grow Swan Hills and Kaybob, and execute on similar acquisitions and amalgamations, using its experience to extract upside value.
Razor is a pivotal leading-edge enterprise, balancing creativity and discipline, focused on growing an enduring energy company. Razor currently trades on TSX Venture Exchange under the ticker “RZE”.
| For additional information please contact: | ||||
| Doug Bailey | Kevin Braun | |||
| President and Chief Executive Officer | OR | Chief Financial Officer | ||
| Razor Energy Corp. | Alliance Capital Partners | |||
| 800, 500-5th Ave SW | Gordon Aldcorn | |||
| Calgary, Alberta T2P 3L5 | www.alliancecapitalpartners.ca | |||
| Telephone: (403) 262-0242 | 403-618-6507 | |||
| www.razor-energy.com | ||||
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