The Board of Directors of Genie Energy Ltd., (NYSE:GNE, GNEPRA) today
initiated payment of a quarterly dividend to holders of its Class A and
Class B common stock and declared a dividend of $0.06 per share for the
third quarter of 2014. The dividend will be paid on or about December 2,
2014 to stockholders of record as of the close of business on November
24, 2014. The ex-dividend date will be November 20, 2014.
The distribution will be treated as a return of capital for income tax
purposes.
Genie Energy’s Chairman and CEO, Howard Jonas, said, “We were pleased by
the Company’s rapid recovery from the polar vortex. Given the resiliency
of our retail business and balance sheet liquidity, we are in a strong
position to return cash directly to our common stock holders.”
Genie Energy also pays a quarterly dividend of $0.1594 per share of its
Series 2012-A Preferred Stock (NYSE: GNEPRA).
About Genie Energy Ltd.:
Genie Energy Ltd. (NYSE:GNE, GNEPRA) is comprised of IDT Energy and
Genie Oil and Gas (GOGAS). IDT Energy is a retail energy provider
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 fuel resources. GOGAS resource
development projects include a conventional oil and gas exploration
program in Israel and in-situ oil shale projects in Colorado, Israel and
Mongolia. For more information, visit www.genie.com.
Copyright Business Wire 2014