Forest Oil Corp. declares preferred stock dividend.DENVER--(BUSINESS WIRE)--Nov. 17, 1995--Forest Oil Corp. announced Friday that its board of directors has declared a dividend on the company's $.75 convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , payable in shares of the company's common stock. The dividend will be paid on Feb. 1, 1996 to holders of record at the close of business on Jan. 10, 1996. The number of shares of common stock to be issued per share of $.75 convertible preferred stock will be announced prior to the payment date in accordance with the formula for determining dividends payable Dividends payable The declared dividend dollar amount that a company is obligated to pay. with respect to the $.75 convertible preferred stock. Forest Oil Corp. is engaged in the exploitation and acquisition of, exploration for and development and production of natural gas and crude oil. The company's principal reserves and producing properties are located in 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 in Texas, Oklahoma and Wyoming. The company's common and preferred stocks Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. are traded on the Nasdaq National Market System under the FOIL FOIL - File Oriented Interpretive Language. CAI language. ["FOIL - A File Oriented Interpretive Language", J.C. Hesselbart, Proc ACM 23rd National Conf (1968)]. and FOILO symbols, respectively. CONTACT: Forest Oil Corp., Denver Zack Hager, 303/812-1610 |
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