Business
Alvopetro Initiates US$0.06 Per Share Quarterly Dividend
Alvopetro Initiates US$0.06 Per Share Quarterly Dividend Canada NewsWire ...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n \n \n \n Alvopetro Initiates US$0.06 Per Share Quarterly Dividend\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Sept. 21, 2021\n \n /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOD) announces that our Board of Directors has declared a quarterly dividend of\n \n US$0.06\n \n per common share, payable in cash on\n \n October 15, 2021\n \n to shareholders of record on\n \n September 29, 2021\n \n . This dividend is designated as an \"eligible dividend\" for Canadian income tax purposes.  Alvopetro's cash flows are linked to US dollars and as such, dividends are being paid in US dollars. Alvopetro has also given our lender notice of an additional\n \n US$1.0 million\n \n repayment of our credit facility that will bring the amount outstanding under the loan to\n \n US$6.5 million\n \n .\n \n \n \n Corey C. Ruttan\n \n , President and Chief Executive Officer, commented:\n \n \n \n \"We have had a long-standing objective of implementing a disciplined model that balances reinvestment in organic growth opportunities with stakeholder returns.  With the repayment of over half of our initial debt project financing and with ongoing strong production and financial results we are pleased to be implementing quarterly dividends to our shareholders, six months ahead of our previous indication.\"\n \n \n \n \n Non-resident Shareholders\n \n \n \n Dividend payments to non-residents of\n \n Canada\n \n will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada.  For further information, see the Investor ...