Zargon Oil & Gas Ltd. confirms that the monthly cash dividend for the month of January in the amount of Cdn. $0.03 per common share will be paid on February 17, 2015 to shareholders of record on January 31, 2015.
Our dividend policy is reviewed monthly and is based on a number of factors including current and future commodity prices, foreign exchange rates, our commodity hedging program, current operations, financial and legal requirements and other conditions existing at such future times. We will continue to carefully monitor the impact of all these issues and adjust our monthly dividend as conditions dictate.
Zargon's 2015 first quarter cash dividend to shareholders of $0.03 per common share per month based on our 2015 guidance is as follows:
----------------------------------------------------------------------------
Record Date Dividend Payment Date Dividend Per Share
----------------------------------------------------------------------------
January 31, 2015 February 17, 2015 $ 0.03
----------------------------------------------------------------------------
February 28, 2015 March 16, 2015 $ 0.03 ((i))
----------------------------------------------------------------------------
March 31, 2015 April 15, 2015 $ 0.03 ((i))
----------------------------------------------------------------------------
((i)) The above reflects an anticipated dividend based on Zargon's current
projected commodity prices, commodity hedge positions and production
volumes. Dividends are subject to change should there be a material change
in expected cash flow for the respective periods.