PNG hands out more cash to shareholders, execs
Pacific Northern Gas (PNG) shareholders are to receive another cash benefit resulting from the sale earlier this year of its 50 per cent interest in a planned natural gas pipeline to feed the Kitimat LNG export terminal project.
Shareholders of record as of June 6 are to receive $3 a share, amounting to $11 million, part of the net remaining proceeds of an initial $30 million payment made to PNG by Apache Canada and EOG Resources.