All financial figures are in Canadian dollars unless otherwise
noted
CALGARY, AB, Feb. 22, 2022 /CNW/ - Gibson Energy Inc.
announced today that its Board of Directors has approved a
quarterly dividend of $0.37 per
common share, an increase of $0.02
per common share, which will be payable on April 14, 2022, to shareholders of record at the
close of business on March 31,
2022. This dividend is designated as an eligible dividend for
Canadian income tax purposes. For non-resident shareholders,
Gibson's dividends are subject to Canadian withholding tax.
"With the continued growth of our long-term, stable cash flows
from our Infrastructure segment, which increased 17% year over
year, we are pleased to continue the consistent, annual growth of
our dividend," said Steve Spaulding,
President and Chief Executive Officer. "The larger increase
relative to prior years is reflective of our continued adherence to
our stated capital allocation approach as well as our Financial
Governing Principles, which help ensure our strong financial
position. In particular, the continued growth of our
Infrastructure segment has further reduced our Infrastructure-only
payout and leverage metrics and we remain fully-funded for all
anticipated capital growth without needing to rely on the variable
part of our business."
About Gibson
Gibson Energy Inc. ("Gibson" or the
"Company") (TSX: GEI), is a Canadian-based liquids
infrastructure company with its principal businesses consisting of
the storage, optimization, processing, and gathering of liquids and
refined products. Headquartered in Calgary, Alberta, the Company's operations are
focused around its core terminal assets located at
Hardisty and Edmonton,
Alberta, and include the Moose Jaw Facility and an
infrastructure position in the U.S.
Gibson shares trade under the symbol GEI and are listed on the
Toronto Stock Exchange. For more information, visit
www.gibsonenergy.com.
Forward-Looking Statements
Certain statements
contained in this press release constitute forward-looking
information and statements (collectively, forward-looking
statements) including, but not limited to, statements concerning
Gibson's dividend policy, including future growth and sources
thereof. All statements other than statements of historical
fact are forward-looking statements. The use of any of the
words ''anticipate'', ''plan'', ''contemplate'', ''continue'',
''estimate'', ''expect'', ''intend'', ''propose'', ''might'',
''may'', ''will'', ''shall'', ''project'', ''should'', ''could'',
''would'', ''believe'', ''predict'', ''forecast'', ''pursue'',
''potential'' and ''capable'' and similar expressions are intended
to identify forward looking statements. The
forward-looking statements reflect Gibson's beliefs and assumptions
with respect to, among other things, dividend payment and
growth and capital growth and the funding sources thereof. These
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. No assurance can be given that these expectations will
prove to be correct and such forward-looking statements included in
this press release should not be unduly relied upon. These
statements speak only as of the date of this press release. The
Company does not undertake any obligations to publicly update or
revise any forward-looking statements except as required by
securities law. Actual results could differ materially from those
anticipated in these forward-looking statements as a result of
numerous risks and uncertainties including, but not limited to, the
risks and uncertainties described in "Forward-Looking Statements"
and "Risk Factors" included in the Company's Annual Information
Form dated [February 22, 2022] as
filed on SEDAR and available on the Gibson website at
www.gibsonenergy.com.
For further information, please contact:
Mark Chyc-Cies
Vice President, Strategy, Planning & Investor
Relations
Phone: (403) 776-3146
Email: mark.chyc-cies@gibsonenergy.com
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SOURCE Gibson Energy Inc.