Perth, Aug 31, 2010 (ABN Newswire) - Linc Energy Limited (ASX:LNC) (PINK:LNCGY) is pleased to advise their intention to declarea fully franked dividend of A$0.10 cents per share on 8 October 2010.
The Company's ability to pay the dividend arises from the recent sale of its 100% interest in the Galilee coal tenement (EPC 1690).
It is the Directors opinion that the Company meets the tests of Section 254T of the Corporations Act and that the payment is fair and reasonable.
The Board has moved to declare a dividend at this time to recognise both the loyalty of the Company's shareholders and the confidence of the Board in the Linc Energy's future business plan. It remains the philosophy of the Board to continue to share significant financial milestones with our shareholders as appropriate going forward.
The dates for the final dividend are:
- Ex-Dividend date 6 September 2010 - Record date 10 September 2010 - Payment date 8 October 2010
About Linc Energy Limited
Linc Energy is a globally focused, diversified energy company with a strong portfolio of coal, oil and gas deposits. It is Linc Energy's purpose to unlock the value of its resources to produce energy to fuel the future.
A publicly listed company, Linc Energy is the global leader in Underground Coal Gasification (UCG), which delivers a synthesis gas feedstock to supply commercially viable energy solutions – such as electricity, transport fuels and oil production – through gas turbine combined cycle power generation, Gas to Liquids (GTL) Fischer-Tropsch processing and Enhanced Oil Recovery.
Linc Energy has constructed and commissioned the world's only UCG to GTL demonstration facility located in Queensland, Australia. This facility produces the world's only UCG to GTL synthetic diesel fuel. Linc Energy also owns the world's only commercial UCG operation, Yerostigaz, located in Uzbekistan. Yerostigaz has produced commercial UCG synthesis for power generation for 50 years.
Linc Energy is on a rapid global expansion path to commercialise its portfolio of resources, with established offices across three continents in the United States, the United Kingdom and Australia.
Contact
Mr Peter Bond Chief Executive Officer Phone: +61-7-3229-0800 Email: pab@lincenergy.com.au http://www.lincenergy.com.au
ASX:LNC) (
Linc Energy Limited
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