Pengrowth Energy Corp (USA) (NYSE:PGH) Shares Trading Down


Dallas, Texas 10/09/2013 (Financialstrend) – Calgary, Canada based “Pengrowth Energy Corp (USA) (NYSE:PGH)” is into Oil & Gas drilling & exploration. On September 12 Pengrowth Energy had announced quarterly dividend payout plan. The dividend would be paid out on October 15. $0.039 will be paid out as dividend to each common stock Share holder and the stock went ex-dividend on September 19. Share holders who are on record as of September 23 will be paid the dividend.

In the previous 12 months trailing period, the oil producer has paid out a total of $0.47 per share. This translates to a 7.6% forward yield over the past 12 months. Unlike other oil companies, Pengrowth provides its investors with an option to reinvest its dividend under its “Dividend Reinvestment Program”. Investors who opt for this plan, can get their hands on new shares at a marked down price which will be five percent below the average trading price.

Pengrowth Energy Corporation has a market cap of $3.19 billion and owns extensive assets. Properties which are under production include Swan Hills light oil and the Lindbergh thermal bitumen plant. It also owns and operates Cardium light oil project.

In a new development which might impact the share holders of this oil firm a law firm “Klayman & Toskes, P.A” announced on September 26, that it is launching investigations into the background of the close to 60% dip in the market value of the stock since April 2011. At that time the stock price was averaging $14.5 per share in comparison to $5.9 per share when the investigations were announced.

As of close of business on October 8, the shares of this firm were trading at $6.18 per share down 1.28% from its previous day close. This price valuation reflects a 70% increase from its 52 week low pricing and a 2.2% increase over its 52 week high pricing.