Pacific Rubiales Energy (PRE.TO) Monday announced 50% increase in its quarterly dividend to $0.165 per share from the previous dividend of $0.110 per share. The dividend is payable on june 28 to shareholders of record as of june 20 and to holders of Brazilian Depositary Receipts of record as of June 17.
CEO, Ronald Pantin said in a statement that the company expects to continue paying a dividend on a quarterly basis at this level. A formal dividend policy is not currently in place, however, the Board is in the process of developing such a policy.
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