PanCanadian declares Special Dividend.CALGARY, Aug. 30 /PRNewswire/- At a meeting held today, the Board of Directors of PanCanadian Petroleum Limited declared a Special Dividend of $4.60 per common share payable September 14, 2001 to shareholders of record as of September 13, 2001. Shareholders of PanCanadian Petroleum Limited (PCP PCP abbr. 1. phencyclidine 2. primary care physician Pneumocystis carinii pneumonia (PCP) ) will receive this Special Dividend. Holders of shares in PanCanadian Energy Corporation (PCE), trading in the when-issued market, will not be entitled to receive this Special Dividend. In connection with the pending reorganization of Canadian Pacific Limited Canadian Pacific Limited was created in 1971 to own properties formerly owned by Canadian Pacific Railway, a transportation and mining giant in Canada. In October 2001, CP decided to spin-off the remaining businesses it had not recently sold off, thus creating separate companies described in PanCanadian's Information Circular mailed on August 21, 2001 to its shareholders, PanCanadian has received a Canadian advance income tax ruling confirming, among other things, the Canadian income tax treatment of this payment as a taxable dividend. PanCanadian is a premier North American energy company active in the exploration, development, production and marketing of natural gas, crude oil and natural gas liquids. Our core areas are the Western Basin - encompassing our land in Western Canada and the United States - the East Coast of Canada, the Gulf of Mexico and the United Kingdom. These areas are complemented by our prospects in Australia, Brazil and Libya. PanCanadian Petroleum Limited Wesley Twiss Executive Vice President and Chief Financial Officer PanCanadian Petroleum Limited Shares Listed Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. : PCP PCE(x) New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. : PCXWI(xx) When-issued market, trades ex-dividend |
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