HOUSTON, Oct. 23, 2012 (GLOBE NEWSWIRE) -- LinnCo, LLC (Nasdaq:LNCO) announced today its first quarterly cash dividend of $0.71 per common share, which reflects a reduction for taxes of $0.015 per common share from the LINN Energy distribution of $0.725 per unit. The cash dividend will be payable on November 15, 2012, to shareholders of record at the close of business November 6, 2012.
LinnCo was created to enhance LINN Energy's ability to raise additional equity capital to execute on its acquisition and growth strategy. LinnCo is a Delaware limited liability company that has elected to be taxed as a corporation for United States federal income tax purposes, and accordingly its shareholders will receive a Form 1099 in respect of any dividends paid by LinnCo. LinnCo will have no assets or operations other than those related to its ownership of LINN units. More information about LinnCo is available at www.linnco.com.
The LinnCo LLC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15371
This press release includes "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include, but are not limited to forward-looking statements about acquisitions and the expectations of plans, strategies, objectives and anticipated financial and operating results of the company, including the company's drilling program, production, hedging activities, capital expenditure levels and other guidance included in this press release. These statements are based on certain assumptions made by the company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to the company's financial performance and results, availability of sufficient cash flow to pay distributions and execute its business plan, prices and demand for oil, natural gas and natural gas liquids, the ability to replace reserves and efficiently develop current reserves and other important factors that could cause actual results to differ materially from those projected as described in the company's reports filed with the Securities and Exchange Commission. See "Risk Factors" in the company's Annual Report filed on Form 10-K and other public filings and press releases.
Any forward-looking statement speaks only as of the date on which such statement is made and the company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: LinnCo, LLC Investors & Media: Clay Jeansonne, Vice President, Investor & Public Relations 281-840-4193 Brook Wootton, Director, Investor & Public Relations 281-840-4099