CALGARY, AB, Dec. 15, 2022 /CNW/ - SECURE Energy Services Inc. ("SECURE", the "Corporation") (TSX: SES) is pleased to announce that its Board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about January 16, 2023, to shareholders of record on January 1, 2023. This dividend is an eligible dividend for the purpose of the Income Tax Act (Canada). To be an eligible shareholder, a shareholder must be resident in Canada and must not be a "U.S. person" within the meaning of United States ("U.S.") federal securities laws.
The dividend payable on or about January 16, 2023, represents a material increase of over 13 times from the last dividend paid by SECURE on October 15, 2022, and approximates a 5.7% annualized yield for shareholders based on SECURE's closing share price on December 14, 2022. This higher dividend is a first step to carrying out our commitment of delivering meaningful returns to shareholders in connection with the Corporation's increased discretionary free cash flow generation capabilities and the strength of our balance sheet.
SECURE also announced today that it expects to release its 2022 fourth quarter financial and operating results before markets open on Thursday, March 2, 2023. Financial Statements and Management's Discussion and Analysis will be posted to SECURE's website and SEDAR following the release.
SECURE will host a conference call Thursday, March 2, 2023, at 9:00 a.m. MST to discuss the fourth quarter results.
To participate in the conference call, dial 416-764-8650 or toll free 888-664-6383. To access the simultaneous webcast, please visit www.secure-energy.com. For those unable to listen to the live call, a taped broadcast will be available at www.secure-energy.com and, until midnight MST on Thursday, March 9, 2023, by dialing 1-888-390-0541 and using the pass code 639557.
ABOUT SECURE
SECURE is a leading environmental and energy infrastructure business headquartered in Calgary, Alberta. The Corporation's extensive infrastructure network located throughout key resource plays in western Canada and North Dakota includes midstream processing and storage facilities, crude oil and water pipelines, industrial landfills, waste transfer and metals recycling facilities. Through this infrastructure network, the Corporation carries out its principal business operations, including the gathering, optimization and storage of crude oil and natural gas liquids, and the processing, recovery and disposal of waste streams generated by our energy and industrial customers. The solutions the Corporation provides are designed not only to help reduce costs, but also lower emissions, increase safety, manage water, recycle by-products and protect the environment.
SECURE's shares trade under the symbol SES and are listed on the Toronto Stock Exchange. For more information, visit www.secure-energy.com.
TSX Symbol: SES
SOURCE SECURE Energy Services Inc.
