Baytex Announces Quarterly Dividend for October 2024

Rhea-AI Summary

Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) has declared a quarterly cash dividend of CDN$0.0225 per share, payable on October 1, 2024, for shareholders of record on September 16, 2024. The U.S. dollar equivalent is approximately US$0.0163 per share, assuming a foreign exchange rate of 1.38 CAD/US. This dividend is designated an "eligible dividend" for Canadian tax purposes and a "qualified dividend" for U.S. income tax purposes. Baytex Energy Corp. is an energy company focused on crude oil and natural gas acquisition, development, and production in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States.

Positive

• Consistent dividend payment demonstrates financial stability
• Dividend qualifies for tax benefits in both Canada and the U.S.
• Diversified operations across Canadian and U.S. oil and gas regions

Negative

• Relatively low dividend amount may not significantly impact shareholder returns
• Foreign exchange rate fluctuations could affect U.S. dollar equivalent of dividend

Calgary, Alberta--(Newsfile Corp. - July 25, 2024) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "company") announces that its Board of Directors has declared a quarterly cash dividend of CDN$0.0225 per share to be paid on October 1, 2024 for shareholders of record on September 16, 2024.

The U.S. dollar equivalent amount is approximately US$0.0163 per share assuming a foreign exchange rate of 1.38 CAD/US. Payments to shareholders who are not residents of Canada will be net of any Canadian withholding taxes that may be applicable. This dividend is designated an "eligible dividend" for Canadian tax purposes and is considered a "qualified dividend" for U.S. income tax purposes.

Baytex Energy Corp.

Baytex Energy Corp. is an energy company with headquarters based in Calgary, Alberta and offices in Houston, Texas. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex's common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.

For further information about Baytex, please visit our website at www.baytexenergy.com or contact:

Brian Ector, Senior Vice President, Capital Markets and Investor Relations

Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217705

FAQ

What is the dividend amount for Baytex Energy Corp (BTE) in October 2024?

Baytex Energy Corp (BTE) has declared a quarterly cash dividend of CDN$0.0225 per share for October 2024.

When is the payment date for Baytex Energy's (BTE) October 2024 dividend?

The payment date for Baytex Energy's (BTE) October 2024 dividend is October 1, 2024.

What is the record date for Baytex Energy's (BTE) October 2024 dividend?

The record date for Baytex Energy's (BTE) October 2024 dividend is September 16, 2024.

What is the U.S. dollar equivalent of Baytex Energy's (BTE) October 2024 dividend?

The U.S. dollar equivalent of Baytex Energy's (BTE) October 2024 dividend is approximately US$0.0163 per share, based on a 1.38 CAD/US exchange rate.