Gibson Energy Inc. Announces Stock Dividend Program

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, May 8, 2013 /CNW/ - Gibson Energy Inc. ("Gibson" or the "Company"), (TSX: GEI), is pleased to announce that its shareholders have approved an amendment to the Company's articles to implement a Stock Dividend Program ("SDP") at the Annual & Special Meeting of shareholders of the Company held today.  The SDP delivers increased optionality for eligible Gibson shareholders by providing the opportunity to receive dividends in the form of common shares of Gibson ("Common Shares") instead of receiving a cash dividend on the dividend payment date.  While it is similar to Gibson's existing Dividend Reinvestment Plan ("DRIP"), the SDP is expected to have certain favorable income tax attributes and is available to both eligible Canadian and non-Canadian shareholders.  The current DRIP program will also remain in place as another option for eligible Gibson shareholders.

Participation in the SDP is optional and will not affect shareholders' dividends unless they elect to participate in the SDP.  Eligible shareholders may elect to participate in the SDP commencing with the quarterly cash dividend payable on July 17, 2013, to shareholders of record on June 28, 2013 (the "July 2013 Dividend").

The benefits of the SDP are as follows:

• Dividends will be paid to electing shareholders in the form of Common Shares at 97% of the volume weighted average trading price of the Common Shares on the Toronto Stock Exchange for the five trading days preceding the dividend payment date;
  
  
• All fees associated with the SDP will be paid by Gibson; and
  
  
• Shareholders can elect to receive stock dividends on all or some of their Common Shares.
  
  

Further details regarding the benefits and potential tax consequences of the SDP are outlined in Gibson's Management Information Circular dated April 4, 2013 which is available on Sedar at www.sedar.com and on Gibson's website at www.gibsons.com.

To participate in the SDP, registered shareholders must deliver a properly completed enrollment form to Computershare Trust Company of Canada ("Computershare") (in its capacity as plan agent under the SDP) not later than 4:00 p.m. (Toronto time) on the fifth business day immediately preceding a dividend record date in order to receive stock dividends.  Registered shareholders who wish to receive the July 2013 Dividend as a stock dividend pursuant to the SDP must deliver a completed and signed enrolment form to Computershare no later than 4:00 p.m. (Toronto time) on Friday, June 21, 2013.

Beneficial shareholders (i.e. owners of Common Shares that are held through a nominee) who wish to participate in the SDP should contact the broker, investment dealer, financial institution or other nominee who holds their Common Shares to inquire about the applicable enrolment deadline and to request enrollment in the SDP.

The current DRIP will not be terminated as a result of the approval of the SDP.  Shareholders will still be able to participate in Gibson's DRIP, should they wish to do so.  In the event that a shareholder is currently enrolled in the DRIP, they do not need to take any further action to remain enrolled in the DRIP.  Shareholders who wish to participate in the SDP will need to enroll in the SDP.  Cash dividends will continue to be paid to those shareholders who are not enrolled in either of the DRIP or SDP.

Participation in the SDP will not relieve shareholders of any liability for taxes that may be payable on dividends.  Shareholders should consult their own tax advisors concerning the tax implementation of their participation in the SDP having regard for their own personal circumstances.  Shareholders should carefully read the complete text of the SDP before making any investment decisions regarding their participation in the SDP.

Copies of the SDP, a series of Questions and Answers, and the enrollment form are available on the Gibson website at www.gibsons.com under the heading "Investor Relations / Dividends", or by calling Computershare at 1-800-564-6253.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The common shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or absent an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There shall be no sale of common shares in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or a sale would be unlawful.

About Gibson

Gibson is a large, independent midstream energy company in Canada and an integrated service provider to the oil and gas industry in the United States. Gibson is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids, water, oilfield waste and refined products. Gibson transports energy products by utilizing its network of terminals, pipelines, storage tanks, and trucks located throughout western Canada and through its significant truck transportation and injection station network in the United States. Gibson also provides emulsion treating, water disposal and oilfield waste management services in Canada and the United States and is the second largest retail propane distribution company in Canada.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ''anticipate'', ''plan'', ''contemplate'', ''continue'', ''estimate'', ''expect'', ''intend'', ''propose'', ''might'', ''may'', ''will'', ''shall'', ''project'', ''should'', ''could'', ''would'', ''believe'', ''predict'', ''forecast'', ''pursue'', ''potential'' and ''capable'' and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although the Company believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The forward-looking statements contained in this news release represent the Company's expectations as of the date hereof, and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.

SOURCE: Gibson Energy Inc.

Ken Hall
Vice President Investor Relations and Communications
[phone]
[email protected]