Shoreline Energy Corp.
TSX : SEQ

Shoreline Energy Corp.

December 05, 2011 09:54 ET

Shoreline Announces Fourth Quarter Dividend

CALGARY, ALBERTA--(Marketwire - Dec. 5, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Shoreline Energy Corporation (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to announce that its Board of Directors has declared a Cdn $0.20 dividend per share in accordance with the quarterly dividend policy for holders of Shoreline Common Shares as follows;

Record Date Ex-Dividend Date Payment Date Dividend Per Share
December 30, 2011 December 28, 2011 January 17, 2012 Cdn$0.20

The dividend is considered an "eligible dividend" for tax purposes.

Shoreline expects to pay a sustainable dividend on a quarterly basis, provided that any decision to pay dividends on the common shares will be made by the Board of Directors on the basis of Shoreline's cash flow from operating activities, earnings, financial requirements, commodity price levels, legal requirements and other conditions existing at such future times. Shoreline currently intends to designate all dividends to be "eligible dividends" for the purposes of the Income Tax Act (Canada) such that shareholders who are individuals will benefit from the enhanced gross-up and dividend tax credit mechanism under the Income Tax Act (Canada).

Shoreline has approximately 5,640,882 common shares outstanding, which trade on the TSX under the symbol SEQ.

A corporate presentation is available on Shoreline's website at www.shorelineenergy.ca.

The Company is a publicly traded company on the TSX. Further information is available on SEDAR at www.sedar.com.

This press release contains forward-looking statements. More particularly, this press release contains forward-looking statements concerning the completion of the proposed transactions, and the receipt of the necessary approvals in connection with the proposed transactions. These statements are based on current expectations and assumptions regarding, among other things, general economic and industry conditions and the regulatory approval process. The forward looking statements involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such risks include, but are not limited to, the ability of the Company and each of the proposed target companies to obtain the necessary approvals and the ability of the Company to complete the proposed transactions on the terms set forth in each of the definitive agreements. Such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX has neither approved nor disapproved of the information contained herein.

Contact Information

  • Shoreline Energy Corporation
    Mr. Trevor Folk
    Chief Executive Officer
    tfolk@shorelineenergy.ca

    Shoreline Energy Corporation
    Calgary Office
    Suite 400, 209-8th Ave SW
    Calgary, Alberta, T2P 1B8
    (403) 767-9066

    Shoreline Energy Corporation
    Toronto Office
    Suite 103, 145 King Street West
    Toronto, Ontario, M5H 1J8
    www.shorelineenergy.ca