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CALGARY - Baytex Energy Corp. (TSX:BTE) (NYSE:BTE), a $1.63 billion market cap energy company, announced Thursday that its Board of Directors has declared a quarterly cash dividend of CDN$0.0225 per share, payable on October 1, 2025, to shareholders of record as of September 15, 2025.
The dividend is equivalent to approximately US$0.0163 per share, based on a foreign exchange rate of 1.38 CAD/US, according to the company’s press release. Payments to non-Canadian residents will be subject to applicable Canadian withholding taxes.
Baytex noted that the dividend is designated as an "eligible dividend" for Canadian tax purposes and qualifies as a "qualified dividend" for U.S. income tax purposes.
The Calgary-based energy company operates in the Western Canadian Sedimentary Basin and the Eagle Ford in the United States, focusing on the acquisition, development, and production of crude oil and natural gas.
Baytex Energy shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
In other recent news, Baytex Energy Corp. has extended its US$1.1 billion revolving credit facilities by one year, moving the maturity from May 2028 to June 2029. This extension does not require annual or semi-annual reviews, as the facilities are not borrowing base facilities. Additionally, Baytex Energy has filed a Form 6-K with the United States Securities and Exchange Commission, detailing its financial and operational results for the first quarter of 2025, which ended on March 31. This filing is a requirement for foreign private issuers in the U.S. and serves as an international equivalent to the U.S. SEC’s 8-K form.
BMO Capital Markets recently revised its price target for Baytex Energy, reducing it to Cdn$2.50 from Cdn$4.00, while maintaining its Market Perform rating. Analyst Jeremy McCrea cited persistent risks related to Baytex’s capital expenditure guidance as a reason for the adjustment. McCrea noted Baytex’s strong presence in Canada’s Clearwater and Mannville heavy oil regions, which offer rapid returns on investment. However, he expressed concerns over the longer payout period for the company’s Eagle Ford wells in the United States, which require 2-3 years to break even at current West Texas Intermediate crude oil prices.
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