Genie Energy Ltd., (NYSE: GNE, GNEPRA) today declared a pro-rated
quarterly cash dividend of $0.1317 per share of Series 2012-A Preferred
Stock for the fourth quarter of its 2012 fiscal year, the three months
ended December 31, 2012.
The quarterly dividend will be paid on February 15, 2013 to stockholders
of record of Genie Energy Ltd. Series 2012-A Preferred Stock as of the
close of business on February 5, 2013. The ex-dividend date is February
1, 2013.
The dividend amount of $0.1317 represents the quarterly dividend of
$0.1594 pro-rated to the proportion of the days that remained in the
fourth quarter following the October 17, 2012 issuance of the Genie
Energy Series 2012-A Preferred shares.
For tax purposes, the $0.1317 per share distribution will be treated as
a return of capital and not as a dividend.
As disclosed in connection with Genie’s issuance of the offer to
exchange, currently Genie Energy does not intend to pay a dividend to
holders of its Class A or Class B Common Stock.
About Genie Energy Ltd.:
Genie Energy Ltd (NYSE: GNE) is comprised of IDT Energy and Genie Oil
and Gas (GOGAS). IDT Energy is a retail energy provider (REP) supplying
electricity and natural gas to residential and small business customers
in the Northeastern United States. GOGAS is pioneering technologies to
produce clean and affordable transportation fuels from the world's
abundant oil shales and other unconventional fuel resources. GOGAS
resource development projects include oil shale initiatives in Colorado
and Israel. For more information, visit www.genie.com.
