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Penn West Exploration Keeps Dividend Steady

Investors can explore the opportunities available to them with the dividend announcement made by Canadian oil and gas producer Penn West Exploration  (NYSE: PWE  ) , which said today it will pay a second-quarter dividend of $0.27 per share on July 15 to the holders of record at the close of business on June 28. This represents no change in payment

Penn West has consistently paid a quarterly dividend since 2005.

Penn West is one of the largest conventional oil and natural gas producers in Canada that also has a significant portfolio of light oil. Based in Calgary, Alberta, the oil and gas producer operates throughout western Canada on a land base of nearly 6 million acres.

The most recent dividend payment equates to a $1.08-per-share annual dividend yielding 11.7% based on the closing price of Penn West Exploration's stock on May 1.

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  • Report this Comment On May 03, 2013, at 1:21 PM, dar43081 wrote:

    Rich, I think your article is at best disingenuous in that while you imply that PWE is just a fantastic company that has paid a dividend since 2005, you neglect to mention that the share price over that same period of time has collapsed from $40 to $9 and change. Pretty expensive dividend!

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