HOUSTON, June 2, 2016 /PRNewswire/ -- Evolution Petroleum
Corporation (NYSE MKT: EPM) today declared a monthly cash dividend on its perpetual non-convertible 8.5% Series A Cumulative
Preferred Stock. The dividend is for the month of June 2016 and is payable on June 30, 2016 to holders of record at the close of business on June 15,
2016. The payment will be 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference.
Expected Tax Treatment
Based on our current projections for the fiscal year ending June 30, 2016, we expect preferred
stock dividends will be treated as qualified dividend income. To the extent such dividends are treated as return of
capital, they will not be reported as taxable income to the recipients, but will instead generally be treated as a reduction in
the shareholder's basis in the stock. We will make a final determination regarding the tax treatment of dividends for the current
fiscal year when the tax reporting process is complete.
The Series A Preferred Stock is listed on the NYSE MKT under the ticker symbol "EPM.PRA."
About Evolution Petroleum
Evolution Petroleum Corporation develops petroleum reserves and shareholder value by applying conventional and specialized
technology to known oil and gas resources, onshore in the United States. Our principal asset is
our interest in a CO2-EOR project in Louisiana's Delhi Field. Additional information,
including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at
www.evolutionpetroleum.com.
Cautionary Statement
All statements contained in this press release regarding potential results and future plans and objectives of the Company are
forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The
Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information,
future events, or otherwise. Important factors that could cause actual results to differ materially from our expectations
include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents
filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements
regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas
fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal
claims, prices, future revenues, income, cash flows, dividends and other comments that are not historical facts contain
predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on
reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate.
Many factors could cause actual results to differ materially from those included in the forward-looking statements.
Company Contact:
Randy Keys, President & CEO
(713) 935-0122
rkeys@evolutionpetroleum.com
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SOURCE Evolution Petroleum Corporation