Frequently Asked Questions about topics such as how to invest in Pengrowth shares, our monthly dividend policy and details on our operational and financial strategy.
Should you have any additional questions, please feel free to contact us.
- Where are the Pengrowth shares traded and under what ticker symbol?
Pengrowth shares are listed on the Toronto Stock Exchange (TSX) under ticker symbol PGF and on the New York Stock Exchange (NYSE) under the ticker symbol PGH.
- Where can I find Pengrowth’s current share prices?
Up-to-date share prices can be found on our Stock Info page.
- Which analysts are following Pengrowth?
A list of the analysts following Pengrowth can be found in our website. See Analyst Coverage in the investors section.
- How can I purchase or sell Pengrowth shares?
Pengrowth shares must be purchased through a financial institution, brokerage or other intermediary.
- How do I find out how many Pengrowth shares I own?
Pengrowth does not keep record of individual shareholders. Please contact your broker or intermediary in order to determine your current holdings of Pengrowth. If you are a registered shareholder of Pengrowth, please contact our Transfer Agent, Olympia Trust Company.
- How do I change my payment details for my dividend payments?
Please contact your broker or other intermediary to change payment instructions for your Pengrowth dividend. Pengrowth offers a Dividend Reinvestment Plan so that shareholders may elect to reinvest their monthly dividend payments in additional Pengrowth shares. Additional details on this plan are located within our DRIP information page.
- What is Pengrowth’s dividend policy?
Pengrowth’s Board of Directors examines dividends on a monthly basis while considering overall market conditions to set the dividend amount each month. Pengrowth does not provide guidance on its dividend payment ahead of the monthly scheduled declaration date.
Pengrowth currently pays its dividend on the 15th or next business day of each month. Actual future dividend levels will be subject to the discretion of the Board of Directors and may vary depending on a variety of factors, including fluctuations in commodity prices, production levels, and capital expenditure requirements, operating costs, royalty burdens and foreign exchange rates.
- How often is Pengrowth’s dividend paid?
Pengrowth currently pays a cash dividend on the 15th day of each month. If the 15th of the month falls on a non-trading day, the dividend is paid on the next day that markets are open.
- Can I reinvest the dividend to purchase more shares?
Pengrowth’s Dividend Reinvestment Plan (DRIP) provides a convenient mechanism for shareholders to reinvest the monthly cash dividend into additional common shares, and also allows participants to make optional cash contributions to purchase additional Pengrowth common shares.*
The enhanced DRIP permits the purchase of Pengrowth common shares from treasury at a 5% discount to the average trading price (as calculated pursuant to the DRIP plan).
Registered Shareholders are eligible to enrol in this Plan, by filling out the attached forms and sending them to Olympia Trust Co. DRIP enrolment forms can be found here.
Beneficial owners of Common Shares whose Common Shares are not registered in their own names may participate in this plan by either: 1) having their Common Shares transferred into their own names; or 2) by instructing their broker, trust company, bank or other nominee to participate in the DRIP on their behalf while maintaining the Common Shares in their nominee's account. For further information regarding Pengrowth’s DRIP, please visit the DRIP Information located in the Investors drop-down menu.
* Beneficial shareholders who own Pengrowth shares in a brokerage account may be unable to take advantage of the optional cash payment feature. Please consult your brokerage to determine if they allow this option.
- Where do I find the amount paid out in previous years?
Please visit the Dividends section of this website for current and historical dividend payments made by Pengrowth.
- Who is your transfer agent?
Effective December 31, 2011, Olympia Trust Company is Pengrowth’s designated Transfer Agent. Olympia’s main responsibility is to manage Pengrowth’s Dividend Reinvestment Plan and associated registered shareholder base. Olympia also manages the distribution of Pengrowth’s annual proxy statements and on-going financial reports to Pengrowth shareholders.
Olympia can be contacted at firstname.lastname@example.org or 1-888-353-3138.
- How do I contact Olympia?
Olympia's customer service centre can be reached at:
- How long can the tax pools shelter Pengrowth’s taxable income?
When will Pengrowth be required to pay corporate tax? How long can the tax pools shelter Pengrowth’s taxable income?
With approximately $4.2 billion of tax pools available, Pengrowth is not expecting to be subject to any new corporate income taxes that would reduce the amount of cash on hand available for the payment of dividends. Pengrowth currently expects, based upon current tax legislation, anticipated capital spending, and economic conditions, that it will not be required to pay any income tax until after 2017.
- What are the tax implications for a Canadian Shareholder invested in Pengrowth?
All dividends paid on Pengrowth common shares to Canadian residents are designated as “eligible dividends” for Canadian income tax purposes. This designation will apply until a notification of a change is posted on this website.
If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.
Historical Canadian taxation letters can be accessed in our Taxation section.
- What are the tax implications for a U.S. shareholder invested in Pengrowth?
Pengrowth dividends are taxed differently in jurisdictions outside of Canada. In the U.S. Pengrowth dividends are classified as “Qualified Dividends” and are reported annually on form 1099-DIV, that are produced by your brokerages.
For additional information, please visit the Taxation section of this website.
- What is withholding tax? Am I subject to it?
There is a 15 percent withholding tax rate as part of a reciprocal tax treaty between Canada and the U.S. and is applied to payments made into taxable trading accounts in the United States. Please note, that to the best of our knowledge withholding tax is not applied to dividends of U.S. shareholders of Pengrowth who hold their shares in tax deferred retirement accounts such as IRAs, 401Ks or other non-taxable accounts.
For payments made into taxable accounts, a U.S. taxpayer may be eligible to use Form 1116 to claim a credit or deduction, subject to certain restrictions on their U.S. Federal Income Taxes.
Please discuss these options with your U.S. tax advisor.
- What is Pengrowth's production mix?
Pengrowth’s production mix is balanced between oil and liquids and natural gas. For more information on Pengrowth’s current year production guidance please visit our Guidance section.
- How many years of reserves does Pengrowth have?
On a proved plus probable basis, Pengrowth’s reserve life index as of December 31, 2012 is 14.7 years.
- Does Pengrowth hedge any of its production?
Yes, as part of its financial management strategy, Pengrowth uses forward price swap contracts to manage its exposure to commodity price fluctuations and to provide a measure of stability to monthly cash dividends. For more detailed information on our current hedges in place, please click here to visit our hedging and marketing page.
- What is Pengrowth's Operating strategy?
- What does conventional and unconventional development mean?
Conventional oil and gas production is typically production from mature properties that are considered in their final states of depletion, where traditionl methods of oil well recovery (such as vertical drilling) are used.
Unconventional oil and gas production utilizes advanced methods of oil recovery to maximize the production and extend the economic life of oil and gas fields.
Both methods of production have their advantages and disadvantages and it is Pengrowth’s belief that both conventional and unconventional development has the ability to add value depending on the economic factors of specific projects as well as the outlook for commodity prices.
For more information on Pengrowth’s operations please visit the Our Projects section of this website.