Dividends are an integral part of our value proposition and strategy.  For approximately 26 years we have provided a source of monthly cash flow to our investors, paying approximatley $5.6 billion, or approximately $44.16* per share, in cash distributions and dividends over that time. We remain committed to our dividend paying model as we execute our differentiated strategy and build future value for our investors. 

*To September 30, 2014, based on shares issued at inception. 

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We have taken several measures to safeguard our dividend, maintain our financial and balance sheet strength and provide additional flexibility to ensure that we have the financial means and discipline to develop the Lindbergh thermal bitumen project. These measures include:

We remain committed to a dividend of $0.04 per share per month and expect to be able to fund the capital requirements of our conventional drilling program, as well as the first phase (12,500 bbl/d) of Lindbergh through 2014, without taking on additional debt.


Our Board of Directors approves dividends on a monthly basis and we do not provide forward guidance on our dividend payment. Please refer to the dividend schedule below for declaration dates.

Risk Management Positions & Dividend Policy Update - October 2014

2014 Dividend Schedule & Amounts

Our dividends are declared and paid (and listed below) in Cdn dollars. The actual U.S. dollar equivalent dividend will vary according to the $Cdn/$U.S. exchange rate in effect on the record date (registered holders) and the payment date (beneficial holders), net of applicable withholding taxes for U.S. residents who hold their Pengrowth shares in taxable accounts.



Payment Date

Record  Date (1)Ex-Dividend Date (2)Declaration DateDividend Amount (Cdn)
15/01/2014 23/12/2013 19/12/2013 12/12/2013 $0.04 
18/02/2014 23/01/2014 21/01/2014 13/01/2014 $0.04
17/03/2014 25/02/2014 21/02/2014 13/02/2014 $0.04 
15/04/2014 24/03/2014 20/03/2014 13/03/2014 $0.04 
15/05/2014 23/04/2014 21/04/2014 11/04/2014 $0.04
16/06/2014 23/05/2014 21/05/2014 13/05/2014 $0.04
15/07/2014 23/06/2014 19/06/2014 12/06/2014 $0.04
15/08/2014 22/07/2014 18/07/2014 11/07/2014 $0.04
15/09/2014 22/08/2014 20/08/2014 12/08/2014 $0.04
15/10/2014 22/09/2014 18/09/2014 11/09/2014 $0.04
17/11/2014 22/10/2014 20/10/2014 10/10/2014 $0.04
15/12/2014 24/11/2014 20/11/2014 13/11/2014 $0.04


YTD Dividend Declared ($Cdn) $0.44


2015 Dividend Schedule 


  1. Business day typically between the 22nd and 24th of each month (exact date will depend on number of business days in a particular month).
  2. Two business days before record date. In exceptional circumstances, Pengrowth may alter the normal ex-dividend date. Shareholders are encouraged to verify the ex-dividend date pertaining to a particular dividend through the press releases issued by  Pengrowth.

Historical Dividends