Baytex Confirms Monthly Distribution

Baytex Energy Trust said that a cash distribution of $0.18 per unit in respect of June operations will be paid on July 16, 2007, for unitholders of record on June 29, 2007. The ex-distribution date is June 27, 2007.

The U.S. dollar equivalent distribution amount is approximately US$0.1685 per trust unit assuming a Canadian to U.S. dollar exchange rate of $0.9360. The actual U.S. dollar equivalent distribution for unitholders who hold through a brokerage firm will be based upon the Canadian/U.S. exchange rate in effect on the payment date, net of applicable Canadian withholding taxes. Registered shareholders are paid directly by Baytex's transfer agent, Valiant Trust Company, and the distribution will be based on the exchange rate as of the record date, net of applicable withholding taxes.

Baytex has paid a monthly distribution of $0.18 per unit since January 2006. Prior to that, Baytex had maintained its monthly distributions at $0.15 per unit since its inception in September 2003. The Trust's annualized cash distribution, based on the current payment, amounts to $2.16 per trust unit and represents an annualized cash-on-cash yield of approximately 10.3% based on the June 14, 2007, closing price of $20.90 per trust unit.

Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours