EnerJex pfd stock for high yield

dan_s · Post by **dan_s** » Tue Sep 09, 2014 10:27 am

I have high hopes for this small-cap. IMO the common stock has a lot of upside for us. Their pfd stock has a nice monthly dividend. - Dan

ENERJEX RESOURCES DECLARES MONTHLY CASH DIVIDEND ON 10% SERIES A PREFERRED STOCK

San Antonio, Texas (September 8, 2014) – EnerJex Resources, Inc. (NYSE MKT: ENRJ, ENRJ.PR) (“EnerJex” or the “Company”) announced today that it has declared a monthly cash dividend on its non-convertible 10.0% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”). The dividend is for the month of September 2014 and is payable on September 30, 2014 to holders of record at the close of business on September 15, 2014.

The dividend payment will be 1/12th of the 10.00% annualized amount, or $0.208333 per share, based on the $25.00 per share liquidation preference of the Series A Preferred Stock. EnerJex’s Series A Preferred Stock is listed on the NYSE MKT under the ticker symbol "ENRJ.PR”.

Expected Tax Treatment
For EnerJex’s fiscal year ending December 31, 2014, some or all of the monthly preferred stock dividends may be treated for tax purposes as return of capital to shareholders. To the extent such dividends are treated as return of capital, they will not be reported as taxable income to the recipients, but will instead generally be treated as a reduction in the shareholder's basis in the stock. The Company will not be able to make a final determination regarding the tax treatment of dividends for the current fiscal year until it reports this information to recipients on Form 1099.

About EnerJex Resources
EnerJex Resources, Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties located in the mid-continent region of the United States. The Company owns oil and gas leases covering nearly 100,000 net acres in multiple prolific hydrocarbon basins located in four states including Colorado, Kansas, Nebraska, and Texas.

EnerJex's operations are focused in five distinct projects where the company produces oil and natural gas from reservoirs that are characterized by long lived reserves with low production decline rates. Within these projects, the Company has identified more than 500 low-risk drilling locations. Through its large acreage footprint in the Denver-Julesburg ("DJ") Basin, EnerJex also has significant exposure to emerging oil resource plays that are being pursued by competitors on trend with the Company's properties. EnerJex's headquarters are located in San Antonio, Texas, and additional information is available on its website at www.enerjex.com.