Baytex Confirms Quarterly Dividend

Rhea-AI Summary

Baytex Energy Corp. (BTE) Declares Quarterly Dividend of CDN$0.0225 per Share, Designated as Eligible Dividend for Canadian Tax Purposes and Qualified Dividend for U.S. Income Tax Purposes

Positive

• The declaration of a quarterly cash dividend reflects the company's commitment to rewarding shareholders and maintaining financial stability.
• Designating the dividend as 'eligible' for Canadian tax purposes and 'qualified' for U.S. income tax purposes enhances its attractiveness to investors on both sides of the border.

Negative

• None.

Calgary, Alberta--(Newsfile Corp. - July 27, 2023) -  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 2, 2023 for shareholders of record on September 15, 2023.

The U.S. dollar equivalent amount is approximately US$0.0170 per share assuming a foreign exchange rate of 1.32 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/175163

FAQ

What is the dividend amount declared by Baytex Energy Corp.?

Baytex Energy Corp. has declared a quarterly cash dividend of CDN$0.0225 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on October 2, 2023 for shareholders of record on September 15, 2023.

What are the tax implications of the dividend for Canadian and U.S. shareholders?

The dividend is designated as an 'eligible dividend' for Canadian tax purposes and a 'qualified dividend' for U.S. income tax purposes.

Where is Baytex Energy Corp. headquartered and what are its primary operations?

Baytex Energy Corp. is headquartered in Calgary, Alberta and is engaged in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States.