RED DEER, Alberta--(BUSINESS WIRE)--Parkland Fuel Corporation (“Parkland”) (TSX:PKI), Canada's largest and one of North America's fastest growing independent marketers of fuel and petroleum products, today announced that a dividend of $0.0945 per share will be paid on December 15, 2016 to shareholders of record on November 22, 2016. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is November 18, 2016.
Shareholders who wish to enroll for the first time in the enhanced Dividend Reinvestment Plan must do so prior to the November 18, 2016 ex-dividend date if they wish to participate in the Plan for this month’s dividend.
Brokerage entitlement and corporate actions departments are encouraged to ensure that they have properly elected with Clearing and Depository Services Inc. (“CDS”) those shares that should participate in each component of the Plan no later than November 21, 2016, the business day prior to the record date.
ENHANCED DIVIDEND REINVESTMENT PLAN
In addition to the option of receiving a monthly cash dividend of $0.0945 per share, the enhanced Dividend Reinvestment Plan allows shareholders to repurchase shares with their dividend at a 5% discount to the volume weighted average price as defined by the Plan.
Those shareholders who do not elect to participate in the enhanced Dividend Reinvestment Plan will still receive their regular monthly dividend of $0.0945 per share.
Shareholders who own their shares through a brokerage and who wish to participate in either component of the Plan should call their broker and instruct them to enroll their shares in one of the two options.
Shareholders who hold certificates in their own name (registered shareholders) who wish to enroll can find out more from Computershare by calling 1-800-564-6253. Copies of the Plan, a series of questions and answers and the enrollment form are also available on Parkland's website at http://bit.ly/PKIdividend.
ABOUT PARKLAND FUEL CORPORATION
Parkland delivers gasoline, diesel, propane, lubricants, heating oil and other high-quality petroleum products to motorists, businesses, households and wholesale customers in Canada and the United States. Our mission is to be the partner of choice for our customers and suppliers, and we do this by building lasting relationships through outstanding service, reliability, safety and professionalism.
We are unique in our ability to provide customers with dependable access to fuel and petroleum products, utilizing a portfolio of supply relationships, storage infrastructure, and third party rail and highway carriers to rapidly respond to supply disruptions in order to protect our customers.