Thursday, January 12, 2012

Nal Energy Cuts Dividend

CALGARY, ALBERTA--(Marketwire - Jan. 11, 2012) - NAL Energy Corporation (TSX:NAE) ("NAL" or the "Corporation") announces that it will be meeting with the investment community in Calgary, Alberta today at 2:00 pm MST to outline details of NAL's 2012 guidance with a focus on the Corporation's operating plan, key plays and prospects, and financial assumptions. 


NAL's 2012 plan targets a dividend payout ratio of approximately 35 percent of current year cash flow. This objective balances the development of the Corporation's extensive inventory of light oil opportunities, maintains a competitive dividend and retains financial flexibility.

In light of the current weak AECO natural gas price and uncertain economic outlook for 2012, the Board of Directors has decided to reduce NAL's monthly dividend to $0.05 per share from $0.07 per share effective with the January dividend payable in February, 2012.

NAL's business plan for 2012 improves the sustainability of the Corporation for the long-term and preserves the balance sheet for acquisition opportunities that will create incremental value for our shareholders.

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