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Whitecap Resources Inc. Receives TSX Approval for Renewed Normal Course Issuer Bid and Confirms Monthly Dividend for May of $0.01425 per Share
Whitecap Resources Inc. Receives TSX Approval for Renewed Normal Course Issuer Bid and Con...
About this update from Whitecap Resources Inc.
[{"type":"text","content":"\n\n\n\nWhitecap Resources Inc. Receives TSX Approval for Renewed Normal Course Issuer Bid and Confirms Monthly Dividend for May of $0.01425 per Share\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\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 14, 2020\n\n\n\nCALGARY, May 14, 2020 /CNW/ - Whitecap Resources Inc. (\"Whitecap\") (TSX: WCP) announces that the Toronto Stock Exchange (the \"TSX\") has accepted the notice of Whitecap's intention to commence a normal course issuer bid (the \"NCIB\"). Whitecap previously purchased an aggregate of 6,255,100 common shares at a weighted average price per share of $4.40 under a normal course issuer bid that runs between May 21, 2019 to May 20, 2020.\nThe NCIB allows Whitecap to purchase up to 20,406,799 common shares (representing 5% of its 408,135,989 outstanding common shares as of May 8, 2020) over a period of twelve months commencing on May 21, 2020. The NCIB will expire no later than May 20, 2021. Under the NCIB, common shares may be repurchased in open market transactions on the TSX and other alternative trading platforms in Canada and in accordance with the rules of the TSX governing NCIB's. The total number of common shares Whitecap is permitted to purchase is subject to a daily purchase limit of 946,154 common shares, representing 25% of the average daily trading volume of 3,784,619 common shares on the TSX calculated for the six-month period ended April 30, 2020, however, Whitecap may make one block purchase per calendar week which exceeds the daily repurchase restrictions.  Any common shares that are purchased under the NCIB will be cancelled upon their purchase by Whitecap.\nIn addition, Whitecap confirms that a cash dividend of Cdn. $0.01425 per common share in respect of May operations will be paid on June 15, 2020 to shareholders of record on May 31, 2020.  This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).\nNote Regarding Forward-Looking Statements \nCertain information regarding Whitecap set forth in this document contains forward-looking statements that involve substantial known and...