In addition to the quarterly common share dividend, the Corporation’s board of directors has declared the following quarterly cash dividends on its preferred shares for the quarter ending
Shares | TSX Stock Symbol | Dividend per Share | |||
Cumulative Redeemable Preferred Shares, Series A | BIR.PR.A | ||||
Cumulative Redeemable Preferred Shares, Series C | BIR.PR.C |
All of the dividends are payable on
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements and forward-looking information (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements and information other than historical fact may be forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on such forward-looking statements. Although Birchcliff believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and Birchcliff makes no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking statements.
In particular, this press release contains forward-looking statements relating to the following: that while free funds flow is currently prioritized towards further debt reduction, Birchcliff will continue to consider additional dividend increases and/or common share repurchases under its normal course issuer bid over the coming year. With respect to the forward-looking statements contained in this press release, assumptions have been made regarding, among other things: the degree to which the Corporation’s results of operations and financial condition will be disrupted by circumstances attributable to the COVID-19 pandemic; prevailing and future commodity prices and differentials, exchange rates, interest rates, inflation rates, royalty rates and tax rates; the state of the economy, financial markets and the exploration, development and production business; the political environment; the regulatory framework; future cash flow, debt and dividend levels; future operating, transportation, marketing, G&A and other expenses; Birchcliff’s ability to access capital and obtain financing on acceptable terms; the timing and amount of capital expenditures and the sources of funding for capital expenditures and other activities; the sufficiency of budgeted capital expenditures to carry out planned operations; the successful and timely implementation of capital projects; results of operations; Birchcliff’s ability to continue to develop its assets and obtain the anticipated benefits therefrom; the performance of existing and future wells; the impact of competition on Birchcliff; the availability of and cost of labour, services and materials; the ability to obtain any necessary regulatory or other approvals in a timely manner; the ability of Birchcliff to secure adequate processing and transportation for its products; the Corporation’s ability to successfully market natural gas and liquids; and the results of the Corporation’s risk management and market diversification activities.
Birchcliff’s actual results, performance or achievements could differ materially from those anticipated in the forward-looking statements as a result of both known and unknown risks and uncertainties including, but not limited to: the risks posed by pandemics (including COVID-19) and epidemics and their impacts on supply and demand and commodity prices; actions taken by
The declaration and payment of future dividends (and the amount thereof) is subject to the discretion of the board of directors and may vary depending on a variety of factors and conditions existing from time to time. The payment of dividends to shareholders is not assured or guaranteed and dividends may be reduced or suspended entirely. In addition to the foregoing, the Corporation’s ability to pay dividends may be limited by covenants contained in the agreements governing any indebtedness that the Corporation has incurred or may incur in the future, including the terms of Birchcliff’s credit facilities.
Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other risk factors that could affect results of operations, financial performance or financial results are included in Birchcliff’s most recent Annual Information Form under the heading “Risk Factors” and in other reports filed with Canadian securities regulatory authorities. Management has included the above summary of assumptions and risks related to forward-looking statements provided in this press release in order to provide readers with a more complete perspective on Birchcliff’s future operations and management’s current expectations relating to Birchcliff’s future performance. Readers are cautioned that this information may not be appropriate for other purposes. The forward-looking statements contained in this press release are expressly qualified by the foregoing cautionary statements. The forward-looking statements contained herein are made as of the date of this press release. Unless required by applicable laws, Birchcliff does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Birchcliff:
Birchcliff is a
For further information, please contact: | |
Suite 1000, 600 – 3rd Avenue S.W. | |
Telephone: (403) 261-6401 | |
Email: info@birchcliffenergy.com | |
www.birchcliffenergy.com |
Source:
2021 GlobeNewswire, Inc., source