Universal Energy Group Ltd.
TSX : UEG

Universal Energy Group Ltd.

December 11, 2008 14:08 ET

Universal Energy Group Announces Quarterly Dividend

TORONTO, ONTARIO--(Marketwire - Dec. 11, 2008) - Universal Energy Group Ltd. (the "Company") (TSX:UEG) is pleased to announce that its Board of Directors has declared its second dividend payment of $0.1875 per common share which will be paid on December 31, 2008 to shareholders of record on December 22, 2008. This dividend is designated as an "eligible dividend" for Canadian income tax purposes. While the Board of Directors currently expects to declare dividends quarterly and has determined that this level of dividend is appropriate based on the Company's current financial performance, liquidity and outlook, the declaration and payment of future dividends is subject to the discretion of the Board of Directors after considering the Company's financial results and condition, and other factors it determines to be relevant at the time.

Universal Energy Group's common shares and convertible subordinated debentures are listed on the Toronto Stock Exchange under the symbol "UEG" and "UEG.DB", respectively. Universal Energy Group through its subsidiary Universal Energy Corporation, sells electricity and natural gas in Ontario and natural gas in British Columbia to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary Universal Gas & Electric Corporation, sells natural gas in Michigan to residential, small to mid-size commercial and small industrial customers. Universal Energy Group through its subsidiary National Energy Corporation, operating under the trade name National Home Services, sells long-term water heater rental programs to Ontario residential customers. Universal Energy Group through its subsidiary Terra Grain Fuels Inc. operates an ethanol facility near Belle Plaine, Saskatchewan. Additional information about Universal Energy Group is available on SEDAR (www.sedar.com).

Contact Information

  • Universal Energy Group Ltd.
    Stephen Plummer
    Chief Financial Officer
    (416) 673-1160
    Email: splummer@uegl.ca
    or
    Universal Energy Group Ltd.
    Shawn Dym
    Senior Vice President, Business Development
    (416) 673-4761
    Email: sdym@universalenergy.ca