Pengrowth Energy Corporation announced that its June 17, 2013 cash dividend will be CAD 0.04 per common share. The ex-dividend date is May 21, 2013. The dividend will be payable to all shareholders who hold the company’s shares at the close of business on the record date of May 23, 2013.

Pengrowth Energy Corporation reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported funds flow from operations was CAD 147.5 million or CAD 0.29 per share compared to CAD 113.6 million or CAD 0.31 per share a year ago. This increase in funds flow resulted primarily from higher production volumes from the NAL acquisition, lower royalties and a smaller discount between Canadian light oil and West Texas Intermediate, partially offset by lower realized prices for oil and liquids, primarily due to lower benchmark prices and higher operating expenses. Oil and gas sales were CAD 390.9 million compared to CAD 328.5 million a year ago. Capital expenditures were CAD 166.0 million or CAD 0.32 per share compared to CAD 153.7 million or CAD 0.42 per share a year ago. Adjusted net loss was CAD 1.1 million compared to CAD 5.4 million a year ago. Net loss was CAD 65.1 million or CAD 0.13 per share compared to net income of CAD 0.7 million or CAD 0.00 per share a year ago. Production for the quarter was 89,702 barrels of oil equivalent per day compared to 75,618 boe/d for the same period last year. The company expects that second quarter production will be 3,000 to 4,000 boe/d lower than in the first quarter due to the Weyburn disposition, planned downtime and plant turnarounds across operated and non-operated properties including Lindbergh, Quirk Creek, Sable Island, Dunvegan, and Lochend. The company provided production guidance for the full year 2013. The company expects full year production guidance will be 85,000 to 87,000 boe/d.

Pengrowth Energy Corporation, Q1 2013 Earnings Call, May 02, 2013