Genie Energy to Resume Paying Quarterly Dividend of $0.06 per Share of Common Stock
NEWARK NJ--(Marketwired - January 22, 2016) - The Board of Directors of Genie Energy Ltd., (NYSE: GNE) (NYSE: GNEPRA) today resumed a quarterly dividend on its common stock and declared a payment of $0.06 per share for the fourth quarter of 2015. The dividend will be paid on or about February 12, 2016 to common stockholders of record as of the close of business on February 5, 2016. The ex-dividend date will be February 3, 2016.
The distribution will be treated as a return of capital for income tax purposes.
Genie Energy's Chairman and CEO, Howard Jonas, said, "Genie Retail continues to grow and generate cash, while outlays for the exploration program at Afek will crest this quarter. As a result, we are again in a position to be able to return cash directly to our common stock holders. We will re-evaluate the dividend level each quarter in light of the company's results of operations, available resources, and anticipated cash requirements."
Genie Energy also pays a quarterly dividend of $0.1594 per share of its Series 2012-A Preferred Stock (NYSE: GNEPRA).
About Genie Energy Ltd.:
Genie Energy Ltd. (NYSE: GNE) (NYSE: GNEPRA) is comprised of two operating divisions, Genie Retail Energy (GRE) and Genie Oil and Gas (GOGAS). GRE operates retail energy providers and brokerage and marketing services. GRE's retail energy providers market electricity and natural gas to residential and small business customers primarily in the Eastern United States. GOGAS is a global oil and gas exploration company including an exploratory program in Northern Israel. For more information, visit www.genie.com.
(January 22, 2016 - 5:05 PM EST)
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