Baytex Confirms Monthly Dividend for April at $0.22 Per Share

Mon Apr 16, 2012 4:15pm EDT

* Reuters is not responsible for the content in this press release.

  CALGARY, ALBERTA, Apr 16 (MARKET WIRE) --
Baytex Energy Corp. (TSX:BTE) (NYSE: BTE) announces that a cash dividend
of $0.22 per common share in respect of April operations will be paid on
May 15, 2012 to shareholders of record on April 30, 2012. The ex-dividend
date is April 26, 2012. This dividend is an eligible dividend for the
purposes of the Income Tax Act (Canada).

    The U.S. dollar equivalent dividend amount is approximately US$0.2205 per
share assuming a foreign exchange rate of 1.0021 USD/CAD. The actual U.S.
dollar equivalent dividend for shareholders who hold through a brokerage
firm will be based on the exchange rate in effect on the payment date and
net of applicable Canadian withholding taxes. Registered shareholders are
paid directly by Baytex's transfer agent, Valiant Trust Company, and the
actual U.S. dollar equivalent dividend will be based on the exchange rate
in effect on the record date and net of applicable Canadian withholding
taxes.

    The annualized dividend of $2.64 per share represents a dividend yield of
approximately 5.3% based on the closing price of our common shares on the
Toronto Stock Exchange on April 13, 2012 of $49.40.

    Baytex has a Dividend Reinvestment Plan that provides a convenient and
cost-effective method for eligible holders in Canada and the United
States to maximize their investment in Baytex by reinvesting their
monthly cash dividends to acquire additional common shares. For further
information regarding the Dividend Reinvestment Plan, please visit our
website at www.baytex.ab.ca or contact Valiant Trust Company at
1-866-313-1872.

    The common shares of Baytex Energy Corp. are traded on the Toronto Stock
Exchange and the New York Stock Exchange under the trading symbol BTE.

    All dollar amounts in this press release are Canadian dollars unless
otherwise identified.

Contacts:
Baytex Energy Corp.
Anthony Marino
President and Chief Executive Officer
(587) 952-3100
Toll Free Number: 1-800-524-5521

Baytex Energy Corp.
Derek Aylesworth
Chief Financial Officer
(587) 952-3120
Toll Free Number: 1-800-524-5521

Baytex Energy Corp.
Brian Ector
Vice President, Investor Relations
(587) 952-3237
Toll Free Number: 1-800-524-5521
www.baytex.ab.ca

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