Provident Announces 2011 U.S. Tax Reporting Information
08 2월 2012 - 3:34PM
PR Newswire (Canada)
All values are in Canadian dollars. CALGARY, Feb. 9, 2012 /CNW/ -
Provident Energy Ltd. (Provident) (TSX-PVE; NYSE-PVX) announced
today its 2011 U.S. Shareholder Tax Information. Provident is
treated as a corporation for U.S. federal income tax purposes. As a
corporation, Provident's dividends to U.S. shareholders may be
"qualified dividends" as determined under the U.S. Internal Revenue
Code. Provided the dividends received by U.S. resident shareholders
in 2011 are considered to be qualified dividends as noted above,
100 percent of the dividends should be reported as "qualified
dividends" with 0 percent being reported as tax deferred return of
capital. To assist with the preparation of 2011 U.S. tax
information, non-registered U.S. shareholders should receive a Form
1099-DIV from their broker or intermediary. Provident's transfer
agent, Computershare Trust Company, will issue a Form 1099-DIV to
all registered U.S. shareholders. Dividends paid to non-residents
of Canada were subject to withholding tax at a minimum of fifteen
percent, which was withheld prior to the dividends being paid to
the shareholder. Dividends after January 2011, paid into a
U.S. qualified retirement account should not be subject to any
withholding taxes. Information regarding the amount of Canadian tax
withheld in 2011 should be determined from your own records and is
not available from Provident. Tax information pertaining to 2011
and prior years is available on Provident's website at:
http://www.providentenergy.com/investor/taxinfo.cfm. The summary
contained in this news release is of a general nature only and does
not constitute and is not intended to be legal or tax advice to any
particular holder or potential holder of Provident shares (units
prior to January 1, 2011). Holders or potential holders of
Provident shares are urged to consult their own legal and tax
advisors as to their particular income tax consequences of holding
Provident shares. Provident Energy Ltd. is a Calgary-based
corporation that owns and manages a natural gas liquids (NGL)
infrastructure and logistics business. Provident's facilities are
strategically located in Western Canada and in the premium NGL
markets in Eastern Canada and the U.S. Provident provides monthly
cash dividends to its shareholders and trades on the Toronto Stock
Exchange and the New York Stock Exchange under the symbols PVE and
PVX, respectively. This news release contains certain
forward-looking statements concerning Provident, as well as other
expectations, plans, goals, objectives, information or statements
about future events, conditions, results of operations or
performance that may constitute "forward-looking statements" or
"forward-looking information" under applicable securities
legislation. Such statements or information involve substantial
known and unknown risks and uncertainties, certain of which are
beyond Provident's control, including the impact of general
economic conditions in Canada and the United States, industry
conditions, changes in laws and regulations including the adoption
of new environmental laws and regulations and changes in how they
are interpreted and enforced, increased competition, the lack of
availability of qualified personnel or management, pipeline design
and construction, fluctuations in commodity prices, foreign
exchange or interest rates, stock market volatility and obtaining
required approvals of regulatory authorities. Such forward-looking
information is provided for the purpose of providing information
about management's current expectations and plans relating to the
future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as
making investment decisions. Such forward-looking statements
or information are based on a number of assumptions which may prove
to be incorrect. In addition to other assumptions identified in
this news release, assumptions have been made regarding, among
other things, commodity prices, operating conditions, capital and
other expenditures, and project development activities. Although
Provident believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue
reliance should not be placed on forward-looking statements because
Provident can give no assurance that such expectations will prove
to be correct. Forward-looking statements or information are based
on current expectations, estimates and projections that involve a
number of risks and uncertainties which could cause actual results
to differ materially from those anticipated by Provident and
described in the forward-looking statements or information. The
forward-looking statements or information contained in this news
release are made as of the date hereof and Provident undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise unless so required by applicable
securities laws. The forward-looking statements or information
contained in this news release are expressly qualified by this
cautionary statement. Provident Energy Ltd. CONTACT: Investor
and Media Contact: Raina VitanovManager, Investor RelationsAshley
NuellInvestor Relations & Communications AnalystPhone (403)
231-6710Email: info@providentenergy.com Corporate Head Office:2100,
250 - 2nd Street SWCalgary, Alberta T2P 0C1Phone: (403)
296-2233Toll Free: 1-800-587-6299Fax: (403)
264-5820www.providentenergy.com
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