Cardinal Energy Ltd. Announces Election of Directors and Confirms Monthly Dividend
Cardinal Energy Ltd. Announces Election of Directors and Confirms Monthly Dividend
CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) announces that at its annual and special meeting of shareholders held today each of the five nominees proposed as directors were elected as directors. Detailed results of the vote are set out below.
| Name of Nominee | Votes For | Percent | Votes Withheld | Percent |
| M. Scott Ratushny | 47,015,501 | 91.38% | 4,435,127 | 8.62% |
| John A. Brussa | 39,834,489 | 77.42% | 11,616,139 | 22.58% |
| David D. Johnson | 47,708,884 | 93.39% | 3,378,212 | 6.61% |
| James C. Smith | 48,064,926 | 93.42% | 3,385,702 | 6.58% |
| Gregory T. Tisdale | 48,061,589 | 93.42% | 3,385,507 | 6.58% |
All other matters considered at the meeting were also approved.
Cardinal also confirms that a dividend of $0.035 per common share will be paid on June 15, 2016 to shareholders of record on May 31, 2016 with an ex-dividend date of May 27, 2016. The Board of Directors of Cardinal has declared the dividend payable in either cash or common shares at the election of the shareholder. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
Cardinal is a junior Canadian oil focused company built to provide investors with a stable platform for dividend income and growth. Cardinal's operations are focused in all season access areas in Alberta.
Cardinal Energy Ltd.
M. Scott Ratushny
Chief Executive Officer and Chairman
(403) 216-2706
Cardinal Energy Ltd.
Douglas Smith
Chief Financial Officer
(403) 216-2709
Cardinal Energy Ltd.
Laurence Broos
VP Finance
(403) 727-2021
Cardinal Energy Ltd.
(403) 234-8681
(403) 234-0603
[email protected]
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