Beach Energy Limited Stock Market Press Releases and Company Profile
Beach Petroleum Limited (ASX:BPT)
Beach Petroleum Limited (ASX:BPT)

Adelaide, July 23, 2009 AEST (ABN Newswire) - Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) will pay all shareholders registered on 31 August, 2009 a fully franked, special dividend of two cents per share to reward shareholders for the successful sale of the company's Queensland coal seam gas assets. The dividend also follows Beach's announcement yesterday of its record oil production volumes and sales revenue for the financial year ended 30 June 2009.

The dividend will be paid on 30 September, 2009 with a record date of 31 August, 2009.

The special dividend is separate to Beach's interim and final dividends which are usually declared in February and August.

Beach plans to continue its normal dividend policy, subject to final audited financial results, for the year to 30 June, 2009.

Beach chairman, Bob Kennedy, said the latest special dividend continued the company's strong and consistent record of regularly rewarding shareholders "Beach is one of the most regular and consistent dividend paying company of any oil and gas stock listed on the ASX," Mr Kennedy said.

Mr Kennedy said of Beach, "It has a robust balance sheet and solid revenue from production which we expect to underpin growth for many years."

Eligible shareholders will have the option of reinvesting the special dividend in accordance with Beach's existing Dividend Reinvestment Plan Rules.

The total value of the special dividend will be approximately A$21 million, based on shares currently on issue.

Beach has consistently paid dividends to shareholders since 2002, ranking it within the top tier of dividend paying companies in Australia's oil and gas sector.

Beach previously paid a special dividend in 2003 as a result of its successful 2003 Annual results.

Full details of the special dividend announced today are as follows:
DETAILS OF FORTHCOMING SPECIAL DIVIDEND:------------------------------------------------Record Date:         Monday 31 August 2009Payment Date:        Wednesday 30 September 2009Amount of Dividend:  A$0.02 (2.00 cents)                     per ordinary share------------------------------------------------Franking Percentage: Fully frankedShare Issue Priceunder terms of DRP:  To be advisedDiscount applicableto issue priceunder DRP:           To be advised-----------------------------------
This dividend is not paid from any foreign sourced income.

Contact

Reg Nelson
Beach Petroleum
Tel: +61-8-8338-2833

Hector Gordon
Beach Petroleum
Tel: +61-8-8338-2833



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