HOUSTON, May 14, 2014 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) announced today that its Board of Directors has declared a $0.10 per share cash dividend on its common stock. The dividend is for the fourth fiscal quarter ended June 30, 2014 and is payable on June 30, 2014 to holders of record at the close of business on June 16, 2014. The Board of Directors elected to initiate a $0.10 quarterly dividend to common shareholders in December 2013 to begin cash distributions out of free cash flow. This quarterly dividend continues our initiative to reward shareholders as we harvest the benefits of our long-term position in Delhi Field while funding continued growth at Delhi and in our GARP® business. Based on the June 2013 independent reserves report, projected increases in field production and the ultimate reversion of our 24% working interest are expected to dramatically increase our free cash flows from Delhi over the next four years. Consequently, dividend growth over the next four years is a reasonable expectation. Management also believes that its GARP® patented technology for enhanced oil and gas recovery layers in a new and visible growth catalyst to complement increasing production and cash flows from Delhi. Expected Tax Treatment As a result of the previously announced exercise in November 2013 of the substantial majority of the outstanding stock options and warrants held by officers, directors and staff, the Company realized $31.2 million in current and future income tax deductions related to these exercises. Due to the magnitude of these tax deductions, it is our expectation that all quarterly common stock dividends paid through at least June 30, 2014 will be treated for tax purposes as return of capital to shareholders. Such dividends 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. Global Resources and Infrastructure Conference Evolution Petroleum further announces that it will present at the 6 th Annual Global Resources and Infrastructure Conference, hosted by Brean Capital in New York City to be held at the Millennium Broadway Hotel on May 28th, 2014. Randall Keys, Senior Vice President and Chief Financial Officer, is scheduled to present. The presentation materials will be available on the Company's website the day of the event. About Evolution Petroleum Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value for its shareholders and customers through application of conventional and proprietary technology to known oil and gas resources. Petroleum reserves as of June 30, 2013 include 13.8 MMBOE of proved, 11.2 MMBOE of probable reserves and 3.7 MMBOE of possible reserves. Assets include a CO 2-EOR project in Louisiana's Delhi Field and a patented technology designed to extend well life and recover incremental oil and gas reserves. The Company has no debt. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at ( www.evolutionpetroleum.com). Cautionary Statement All statements contained in this press release regarding potential results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal claims, prices, future revenues, income, cash flows and other statements that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved and these statements will prove to be accurate. Important factors could cause actual results to differ materially from those included in the forward-looking statements.