CALGARY, ALBERTA--(Marketwire - Dec. 10, 2012) - Savanna Energy Services Corp. (TSX:SVY) ("Savanna") is pleased to announce that its Board of Directors has declared a monthly dividend payment of $0.03 (Cdn.) per share to holders of Common Shares. The date of record will be December 31, 2012 and the payment date will be January 15, 2013. This dividend is an eligible dividend for Canadian income tax purposes.
Savanna also has a dividend reinvestment plan (the "DRIP") whereby shareholders can direct cash dividends to be reinvested in additional Common Shares that will be issued at 95% of the volume weighted average price of the Common Shares traded on the Toronto Stock Exchange during the last five trading days preceding the relevant dividend payment date. Further information is available on Savanna's website or by calling or emailing Computershare Trust Company of Canada at 1-800-564-6253 or firstname.lastname@example.org.
Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP. Unless otherwise announced by Savanna, only shareholders who are resident in Canada may participate in the DRIP. Participation will not relieve shareholders of any liability for taxes that may be payable on dividends. Shareholders should consult their own tax advisors concerning the tax implementations of their participation in the DRIP having regard to their own particular circumstances.
Savanna is a leading North American contract drilling and oilfield services company providing a broad range of drilling, well servicing and related services with a focus on fit for purpose technologies and industry-leading aboriginal relationships.