Provident Energy Announces January Cash Distribution.Energy Editors/Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Jan. 9, 2004 Schedule for Release of 2003 Year-end Results and Information on Cash Distribution Taxability also Announced Provident Energy Trust (Provident) (TSX-PVE.UN)(AMEX-PVX) today announced its January cash distribution will be CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $0.12 per unit payable on February 13, 2004. January distributions will be paid to unitholders of record on January 22, 2004. The ex-distribution date ex-distribution date The first day of trading when the seller, rather than the buyer, of a stock will be entitled to a recently announced distribution of an asset. will be January 20, 2004. For unitholders receiving their distribution in U.S. funds, the January 2004 cash distribution will be approximately US$0.09 based on an exchange rate of 1.2788. The actual U.S. dollar distribution will depend on the U.S./Canadian dollar exchange rate on the payment date and will be subject to applicable withholding taxes. 2003 Year-end Results Schedule Provident will report 2003 fourth quarter and year-end results on March 18, 2004. Provident will host a conference call and webcast in conjunction with the release of results, the details of which will be forthcoming closer to March 18. Information on Cash Distribution Taxability For unitholders residing in Canada, tax information for 2003 cash distributions will be reported on March 3, 2004. Unitholders holding units outside of registered plans should receive T3 Supplementary Information slips from either Provident's Trustee or their brokers on or before March 31, 2004. For unitholders residing in the U.S., a tax reporting package will be available on Provident's website by March 18. Because Provident is characterized as a foreign partnership for U.S. tax reporting purposes and does not earn any income in the U.S., the Trust is not required to file returns with the U.S. Internal Revenue Service. As a result, Provident does not furnish investors with a Schedule K-1 nor can it obtain the equivalent Schedule K-1 information to provide directly to investors. Provident recommends unitholders residing outside of Canada consult their tax advisors with respect to the tax implications of cash distributions received in 2003. Provident Energy Trust is a Calgary-based, open-ended energy income trust that owns and manages an oil and gas production business and a midstream mid·stream n. 1. The middle part of a stream. 2. The part of a course that is neither at the beginning nor at the end: the midstream of life. Noun 1. services business. Provident's energy portfolio is located in some of the more stable and predictable producing regions in western Canada
Western Canada, commonly referred to as the West . Provident provides monthly cash distributions to its unitholders and trades on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbols PVE PVE, n an abbreviation for prosthetic valve endocarditis. See endocarditis, infective. .UN and PVX PVX Potato Virus X , respectively. Corporate Head Office: 700, 112 - 4th Avenue S.W. Calgary, Alberta Canada T2P 0H3 |
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