The Company is pleased to announce that its Board of Directors has declared the distribution of the Company's semi-annual cash dividend of $0.025 per common share. This dividend will be payable on March 28, 2024, to shareholders of record at the close of business on March 8, 2024. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.
Dividends for shares traded on the Toronto Stock Exchange ("TSX") will be paid in Canadian dollars on March 28, 2024; however, all US and foreign shareholders will receive USD funds. Dividends for shares traded on Nasdaq Stockholm will be paid in Swedish kronor in accordance with Euroclear principles on April 2, 2024.
To execute the payment of the dividend, a temporary administrative cross border transfer closure will be applied by Euroclear from March 6, 2024, up to and including March 8, 2024, during which period shares of the Company cannot be transferred between the TSX and Nasdaq Stockholm.
Payment to shareholders who are not residents of Canada will be net of any Canadian withholding taxes that may be applicable. For further details, please visit:
https://africaoilcorp.com/investors/dividend-information/
The Company's Annual General Meeting is planned to be held on May 23, 2024.