Tourmaline Oil Corp. (TSX: TOU, OTC: TRMLF), a leading natural gas producer in Canada, has made significant announcements regarding its financial performance and corporate governance. The company has declared a quarterly cash dividend and revealed the results of its recent director elections.
These developments highlight Tourmaline’s commitment to shareholder value and strategic leadership, providing a comprehensive overview of the company’s current status and future outlook.
Quarterly Dividend Declaration
Tourmaline Oil Corp. has announced a quarterly cash dividend of $0.50 per share, payable on June 30, 2026. Shareholders of record as of the close of business on June 15, 2026 will be eligible to receive this dividend. This declaration underscores the company’s strong financial position and its dedication to returning value to shareholders.
The dividend is designated as an eligible dividend for Canadian income tax purposes, offering potential tax advantages to investors. This decision reflects Tourmaline’s focus on maximizing shareholder returns while maintaining a robust financial strategy.
Director Elections
At its annual meeting of shareholders held on June 3, 2026, Tourmaline Oil Corp. announced the election of ten director nominees proposed by management. The elected directors bring a wealth of experience and expertise to the company’s leadership team, ensuring strong governance and strategic direction.
Election Results
The following individuals were elected as directors, along with the voting results:
- Michael L. Rose: 250,689,231 votes for (96.92%), 7,962,762 votes withheld (3.08%)
- Brian G. Robinson: 238,151,953 votes for (92.07%), 20,500,040 votes withheld (7.93%)
- Jill T. Angevine: 250,725,396 votes for (96.94%), 7,926,597 votes withheld (3.06%)
- William D. Armstrong: 248,847,160 votes for (96.21%), 9,804,833 votes withheld (3.79%)
- Lee A. Baker: 246,250,971 votes for (95.21%), 12,401,022 votes withheld (4.79%)
- Christopher E. Lee: 254,209,319 votes for (98.28%), 4,442,674 votes withheld (1.72%)
- Andrew B. MacDonald: 240,308,850 votes for (92.91%), 18,343,143 votes withheld (7.09%)
- Lucy M. Miller: 253,480,598 votes for (98.00%), 5,171,395 votes withheld (2.00%)
- Travis J. Toews: 253,067,129 votes for (97.84%), 5,584,864 votes withheld (2.16%)
- Janet L. Weiss: 256,206,953 votes for (99.05%), 2,445,043 votes withheld (0.95%)
All other matters presented for approval at the meeting were approved by Tourmaline’s shareholders. A detailed report of the voting results is available on SEDAR+ at www.sedarplus.ca.
Forward-Looking Information
Tourmaline’s news release contains forward-looking information and statements, which are subject to various risks and uncertainties. The company’s future dividend payments and the timing and amount thereof are based on several key assumptions, including prevailing commodity prices, currency exchange rates, and the availability of free cash flow.
Tourmaline believes that the expectations and assumptions on which such forward-looking information is based are reasonable. However, undue reliance should not be placed on the forward-looking information because actual results could differ materially from those currently anticipated due to a number of factors and risks, including operational risks, supply chain disruptions, commodity price fluctuations, and changes in legislation.
Additional information on these and other factors that could affect Tourmaline is included in the Company’s most recently filed Management’s Discussion and Analysis, Annual Information Form, and other reports on file with applicable securities regulatory authorities, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or Tourmaline’s website (www.tourmalineoil.com).
The forward-looking information contained in this news release is made as of the date hereof, and Tourmaline undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events, or otherwise, unless expressly required by applicable securities laws.
About Tourmaline Oil Corp.
Tourmaline Oil Corp. is Canada’s largest and most active natural gas producer, dedicated to producing the lowest-development-cost natural gas in North America. The company provides strong and predictable operating and financial performance through the development of its three core areas in the Western Canadian Sedimentary Basin.
With its existing large reserve base, decades-long drilling inventory, and relentless focus on execution, cost management, safety, and environmental performance improvement, Tourmaline is committed to providing shareholders an excellent return on capital and an attractive source of income through its base dividend and surplus free cash flow distribution strategies.
For more information, visit Tourmaline’s website at www.tourmalineoil.com.
