Forcenergy Announces Quarterly Dividend on New Preferred Stock.Business Editors MIAMI--(BUSINESS WIRE)--March 22, 2000 Forcenergy Inc (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FORCV) Wednesday announced that a quarterly dividend on its 14% Series A Cumulative Preferred Stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. ("Preferred Stock") has been declared, payable on March 31, 2000 to holders of record as of the end of business on March 21, 2000 (the "Record Date" and the date of initial delivery of the Preferred Stock). The dividend will be paid in additional shares of Preferred Stock. Each holder of Preferred Stock will receive in additional shares of Preferred Stock, and/or cash in lieu Cash In Lieu (CIL) In a typical exchange offer, "old" shares of the target company are exchanged for "new shares". of fractional shares, a dividend equivalent to $4.28 per share of Preferred Stock held on the Record Date. Forcenergy Inc is an independent exploration and production company engaged in the exploration, acquisition, development and production of crude oil and natural gas. Forcenergy's primary areas of operations are the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and Cook Inlet, Alaska. |
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