Shoreline Energy (TO: SEQ) Delays Dividend on Niobrara Joint Venture

Brian Hicks

Written By Brian Hicks

Posted December 11, 2013

Canada’s Shoreline Energy announced on Wednesday that it will delay its declaration of dividends until it has closed its joint venture with American investment firm Acceleration Resources, LLC. The two companies have been in talks to create a new joint facility in the Niobrara shale formation and the deal is expected to close on January 31, 2014.

Shoreline’s target dividend payout ratio for each financial year is not less than 25 percent and not greater than 65 percent of annual net free cash flow.

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