Pengrowth Energy Trust Reaffirms Cash Distribution for November
Pengrowth Corporation, administrator of Pengrowth Energy Trust, has reiterated that its November 16, 2009 cash distribution will be Cdn $0.07 per trust unit. Pengrowth had previously announced the November distribution level as part of its value creation strategy press release dated October 1, 2009. The distribution is net of amounts withheld to finance capital expenditures and preserve financial flexibility. The ex-distribution date is October 28, 2009. The distribution will be payable to all Pengrowth unitholders who hold trust units on the record date of October 30, 2009.
The distribution of Cdn $0.07 per trust unit is equivalent to approximately U.S. $0.067067 per trust unit using a U.S./Canadian dollar exchange ratio of 0.9581. The actual U.S. dollar equivalent distribution will be based upon the actual U.S./Canadian exchange rate applied on the payment date, net of applicable Canadian withholding taxes. This distribution relates to the production month of September 2009. Cash distributions paid over the past 12 months now total Cdn $1.59 per trust unit or approximately U.S. $1.33 per trust unit.