Follow Us! Like Our Page!

Tourmaline Declares Quarterly Dividend and Announces Election of Directors

Press Release

Calgary, Alberta – Tourmaline Oil Corp. (TSX – TOU) (“Tourmaline” or the “Company”) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.32 per share. The dividend will be payable on June 28, 2024 to shareholders of record at the close of business on June 14, 2024. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

ELECTION OF DIRECTORS

Tourmaline also announces that the following nine individuals proposed by management were elected as directors of Tourmaline at its annual meeting of shareholders held on June 5, 2024 (the “Meeting”):

Nominee Votes For % For Votes Withheld % Withheld
Michael L. Rose 237,346,148 97.92 5,040,056 2.08
Brian G. Robinson 226,674,874 93.52 15,711,330 6.48
Jill T. Angevine 233,364,697 96.28 9,021,507 3.72
William D. Armstrong 239,621,224 98.86 2,764,980 1.14
Lee A. Baker 239,335,774 98.74 3,050,430 1.26
Christopher E. Lee 242,325,739 99.98 60,465 0.02
Andrew B. MacDonald 223,564,846 92.23 18,821,358 7.77
Lucy M. Miller 230,286,549 95.01 12,099,655 4.99
Janet L. Weiss 242,273,066 99.95 113,138 0.05

All other matters presented for approval at the Meeting, including the appointment of auditors, were approved by Tourmaline’s shareholders. A report of voting results will be available on SEDAR+ at www.sedarplus.ca.

Reader Advisories

CURRENCY

All amounts in this news release are stated in Canadian dollars unless otherwise specified.

ABOUT TOURMALINE OIL CORP.

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest emission and lowest-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution and cost management, and industry-leading environmental performance, we are excited to provide shareholders an excellent return on capital, and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tourmaline Oil Corp.
Michael Rose
Chairman, President and Chief Executive Officer
(403)266-5992

OR

Tourmaline Oil Corp.
Brian Robinson
Chief Financial Officer
(403)767-3587; brian.robinson@tourmalineoil.com

OR

Tourmaline Oil Corp.
Scott Kirker
Chief Legal Officer and External Affairs
(403)767-3593;scott.kirker@tourmalineoil.com

OR

Tourmaline Oil Corp.
Jamie Heard
Vice President, Capital Markets
(403)767-5942; jamie.heard@tourmalineoil.com

OR

Tourmaline Oil Corp.
Suite 2900, 250 – 6th Avenue S.W.
Calgary, Alberta T2P 3H7
Phone:  (403) 266-5992; Facsimile:  (403) 266-5952
E-mail:  info@tourmalineoil.com
Website:  www.tourmalineoil.com

IBF4

Loading

NationTalk Partners & Sponsors Learn More