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Tamarack Valley Energy Announces Monthly Dividend Declaration, NCIB Renewal and Initiation of Enhanced Shareholder Returns
Tamarack Valley Energy Announces Monthly Dividend Declaration, NCIB Renewal and Initiation of Enh...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n \n \n \n Tamarack Valley Energy Announces Monthly Dividend Declaration, NCIB Renewal and Initiation of Enhanced Shareholder Returns\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.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Jan. 16, 2024\n \n \n /CNW/ - Tamarack Valley Energy Ltd. (\"\n \n Tamarack\n \n \" or the \"\n \n Company\n \n \") (TSX: TVE) is pleased to announce the declaration of its monthly dividend, renewal of its normal course issuer bid (\"\n \n NCIB\n \n \") and achievement of the first debt threshold under the Company's previously disclosed return of capital framework.\n \n \n \n \n \n \n \n \n \n \n Dividend Declaration\n \n \n \n Tamarack's Board of Directors has declared a monthly cash dividend on its common shares (\"\n \n Common Shares\n \n \") of\n \n C$0.0125\n \n per share in accordance with the Company's dividend policy. The dividend will be payable on\n \n February 15, 2024\n \n , to shareholders of record at the close of business on\n \n January 31, 2024\n \n . This monthly cash dividend is designated as an \"eligible dividend\" for Canadian income tax purposes.\n \n \n \n NCIB Renewal\n \n \n \n The Toronto Stock Exchange (the \"\n \n TSX\n \n \") has approved the Company's application to renew its NCIB. Under the previous NCIB, the Company received approval to purchase up to 27,847,033 Common Shares through TSX and alternative Canadian Trading systems, however, zero purchases were made.\n \n \n The Company had 556,940,664 Common Shares issued and outstanding as at\n \n January 8, 2024\n \n . The NCIB allows Tamarack to purchase up to 54,649,379 Common Shares of the Company (representing approximately 10% of the 546,493,794 issued and outstanding Common Shares that comprise the public float as of\n \n January 8, 2024\n \n ) over a period of twelve months commencing on\n \n January 19, 2024\n \n . The NCIB will expire no later than\n \n January 18, 2025\n \n . The actual number of Common Shares which may be purchased pursuant to the NCIB will be determined by mana...