Business
New Zealand Energy Corp. Clarifies Dividend Strategy
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - New Zealand Energy Corp. (TSX...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp. Clarifies Dividend StrategyVancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") wishes to clarify its dividend strategy as announced in its 8 April 2024 news release. The Company has not yet adopted a formal written dividend policy. The dividend strategy of the Company, as noted in the 8 April 2024 news release, is to be \"dividend oriented\", with the aim being to return at least 50% of free cashflow to shareholders. Should the board of directors of the Company adopt a formal dividend policy, the Company will disclose the terms of such policy, including the proposed commencement date for the payment of dividends and the proposed timing for declaring dividends, in a subsequent news release. The Company cautions that there is no guarantee that the Company will adopt a dividend policy in the near future or at all.On behalf of the Board of DirectorsNew Zealand Energy ContactsEmail: [email protected]: www.newzealandenergy.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Information: This news release contains \"forward-looking information\" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the dividend strategy of the Company. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects NZEC's current beliefs and is based on information currently available to NZEC and on assumptions NZEC believes are reasonable. These assumptions include, but are not limited to: the underlying value of NZEC and its common shares; NZEC's general and administrative costs remaining constant; and the market acceptance of NZEC's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actu...