CALGARY, March 4, 2013 /CNW/ - Secure Energy Services Inc. ("Secure" or the "Corporation") (TSX:SES) today announced that its Board of Directors has approved the implementation of a dividend of $0.0125 per share per month, or $0.15 per share on an annual basis, commencing May 1, 2013. A subsequent press release will be issued once the May 1, 2013 dividend is declared and included in the release will be the date of record, ex-dividend date and the date of payment.
"Our strong balance sheet, growing cash flow and stable business model provide the foundation for the announcement of a dividend," said Rene Amirault, Secure's Chairman and Chief Executive Officer. "The initiation of a monthly dividend reflects our confidence in the ability of our business model to generate returns to our shareholders while continuing to fund our ambitious organic capital program."
ABOUT SECURE ENERGY SERVICES INC.
Secure is a TSX publicly traded energy services company that focuses on providing specialized services to upstream oil and natural gas companies.
The Corporation operates two divisions:
Processing, Recovery and Disposal Division: Operating under the trade name Secure Energy Services, the processing, recovery and disposal services division focuses on clean oil terminalling, custom treating of crude oil, crude oil marketing, produced and waste water disposal, oilfield waste processing, landfill disposal and oil purchase/resale service.
Drilling Services Division: Operating under the trade name Marquis Alliance Energy Group Inc. and its wholly owned subsidiaries ("Marquis Alliance") and operating under the trade name XL Fluids Systems Inc. ("XL Fluids") and under the trade name Imperial Drilling Fluids Engineering Inc. ("IDF"), the drilling services division focuses on drilling fluid systems, solids control, equipment rental service, drilling waste management and environmental services. The drilling fluids service line includes the design and implementation of drilling fluid systems for producers drilling for oil, bitumen and natural gas.
FORWARD LOOKING STATEMENTS
Certain statements contained in this document constitute "forward-looking statements" within the meaning of securities laws, including the "safe harbor" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, as they relate to Secure, or its management, are intended to identify forward-looking statements. Such statements reflect the current views of Secure with respect to future events and operating performance and speak only as of the date of this document. In particular, this document contains forward-looking statements pertaining to: the anticipated date of declaration of a dividend.
Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. We caution readers not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements. Although forward-looking statements contained in this document are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this document are expressly qualified by this cautionary statement. Unless otherwise required by law, Secure does not intend, or assume any obligation, to update these forward-looking statements.
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility for the adequacy or accuracy of this release.