Shoreline Energy Corp.
TSX : SEQ

Shoreline Energy Corp.

August 05, 2011 09:19 ET

Shoreline Energy Corp. Declares Q3 2011 Dividend

CALGARY, ALBERTA--(Marketwire - Aug. 5, 2011) - Shoreline Energy Corp. ("Shoreline") (TSX:SEQ) pleased to announce the declaration of Q3 2011 cash dividend to common shareholders of Cdn$0.20 per share per quarter as follows:

Record Date Ex-Dividend Date Payment Date Dividend Per Share
September 30, 2011 September 28, 2011 October 17, 2011 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 however 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 3,838,000 common shares outstanding, which trade on the TSX under the symbol SEQ.

A corporate presentation is available on Shorelines website at www.shorelineenergy.ca.

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