Crescent Point Confirms Quarterly Dividend and Declares Special Dividend

Rhea-AI Summary

Crescent Point Energy Corp. (CPG) announced a special cash dividend of $0.032 per share, payable on March 17, 2023, to shareholders of record on March 10, 2023. The company also confirmed its previously declared quarterly base dividend of $0.10 per share, scheduled for payment on April 3, 2023, to shareholders of record on March 15, 2023. This move aligns with Crescent Point's return of capital framework, which includes base dividends, share repurchases, and special dividends. The dividends qualify as eligible dividends for Canadian tax and qualified dividends for U.S. tax purposes.

Positive

• Special cash dividend of $0.032 per share enhances shareholder returns.
• Quarterly base dividend of $0.10 per share confirms consistent payout policy.
• Dividends qualify as eligible and qualified dividends for tax advantages.

Negative

• None.

News Market Reaction – CPG

+2.68%

+2.68% Session move

In the trading session that priced this news, CPG gained 2.68%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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CALGARY, AB, March 2, 2023 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) announces its Board of Directors has declared a special dividend and confirms the previously announced quarterly base dividend in alignment with the Company's return of capital framework.

A special cash dividend of $0.032 per share based on Crescent Point's fourth quarter 2022 financial results will be paid on March 17, 2023 to shareholders of record on March 10, 2023. As previously announced, the company's quarterly base dividend of $0.10 per share will be paid on April 3, 2023 to shareholders of record on March 15, 2023.

Crescent Point's total return of capital offering for shareholders includes a combination of a base dividend, accretive share repurchases and special dividends.

The dividends are designated as "eligible dividends" for Canadian income tax purposes. For U.S. income tax purposes, Crescent Point's dividends are considered "qualified dividends."

FOR MORE INFORMATION ON CRESCENT POINT ENERGY, PLEASE CONTACT:

Shant Madian, Vice President, Capital Markets, or
Sarfraz Somani, Manager, Investor Relations
Telephone: (403) 693-0020 Toll-free (US and Canada): 888-693-0020  Fax: (403) 693-0070
Address: Crescent Point Energy Corp. Suite 2000, 585 - 8th Avenue S.W. Calgary AB  T2P 1G1
www.crescentpointenergy.com

Crescent Point shares are traded on the Toronto Stock Exchange and New York Stock Exchange under the symbol CPG.

View original content:https://www.prnewswire.com/news-releases/crescent-point-confirms-quarterly-dividend-and-declares-special-dividend-301760121.html

SOURCE Crescent Point Energy Corp.

FAQ

What is the special dividend amount declared by Crescent Point Energy (CPG)?

Crescent Point Energy (CPG) declared a special cash dividend of $0.032 per share.

When will the special dividend be paid to shareholders of Crescent Point Energy (CPG)?

The special dividend will be paid on March 17, 2023, to shareholders of record on March 10, 2023.

What is the quarterly base dividend amount for Crescent Point Energy (CPG)?

The quarterly base dividend for Crescent Point Energy (CPG) is $0.10 per share.

When will the quarterly base dividend be paid by Crescent Point Energy (CPG)?

The quarterly base dividend will be paid on April 3, 2023, to shareholders of record on March 15, 2023.

Are Crescent Point Energy's (CPG) dividends eligible for tax benefits?

Yes, the dividends are designated as eligible for Canadian income tax and considered qualified dividends for U.S. income tax.