Parkland Fuel Corporation Announces May 2011 Dividend

RED DEER, AB, May 11 /CNW/ - Parkland Fuel Corporation ("Parkland" or the "Corporation") (TSX: PKI), Canada's largest independent fuel distributor and marketer, today announced that a dividend of $0.085 per share will be paid on June 15, 2011 to shareholders of record on May 20, 2011.  The ex-dividend date is May 18, 2011.

Shareholders who wish to enroll for the first time in the Premium Dividend™ and enhanced Dividend Reinvestment Plan must submit their enrollment forms to Valiant Trust prior to the May 18, 2011 ex-dividend date if they wish to participate in the Plan for the April dividend.

Brokerage entitlement departments are encouraged to double check prior to the May 18, 2011 ex-dividend date that they have properly elected with Clearing and Depository Services Inc. ("CDS") those shares that should participate in each component of the plan.

Premium Dividend™ and enhanced Dividend Reinvestment Plan
In addition to the option of receiving a monthly cash dividend of $0.085 per share, the Premium Dividend™ and enhanced Dividend Reinvestment Plan provide Canadian shareholders with the following options:

  • The Premium Dividend™ - this provides eligible shareholders with a 2% cash premium on top of their regular cash dividend.  Participants in this option will receive $0.0867 per share on June 15, 2011.

  • Dividend Reinvestment - this 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 Premium Dividend™ and enhanced Dividend Reinvestment Plan will still receive their regular monthly dividend of $0.085 per share.

Enrolling
Many brokerages have already enrolled their clients in the Premium Dividend™. Shareholders who own their shares through a brokerage and who wish to participate in either component of the Plan should call their broker to check if they are already enrolled and, if not, instruct their brokers to enroll their shares in one of the two options.  Be aware that some brokerages may charge fees for enrolment, so please ask about related fees when speaking with your broker.

Shareholders who hold certificates in their own name (registered shareholders) who wish to enroll can find out more from Valiant Trust Company, as the Plan's Agent, through their website at www.valianttrust.com or by calling 1-866-313-1872.

Additional information can also be found at:
www.parkland.ca/Investors/Dividends/PremiumDividend.aspx

Alternatively, please contact Parkland Investor Relations by using the information below.

About Parkland Fuel Corporation
Parkland Fuel Corporation ("Parkland") is Canada's largest independent marketer and distributer of fuels, managing a nationwide network of sales channels for retail, commercial, wholesale and home heating fuel customers.  Parkland's mission is to be the most trusted source of convenience for fuel and related products focused on non-urban markets.  Our family of brands includes: Fas Gas Plus, Race Trac Gas, Bluewave Energy, Columbia Fuels, Great Northern Oil, Neufeld Petroleum & Propane, United Petroleum Products and Island Petroleum.  We are Canada's local fuel company, delivering competitive fuel products and serving Canadian communities through local operators who care. For more information please visit www.parkland.ca.

Parkland shares and convertible debentures trade on the Toronto Stock Exchange (TSX) under the symbols PKI, PKI.DB and PKI.DB.A.


SOURCE Parkland Fuel Corporation

For further information:

For investor and media inquiries, or to be added to the email news alert service, please contact Tom McMillan, Investor Relations Manager at 403-356-6722, 1-800-662-7177 ext 6722 or tom.mcmillan@parkland.ca.

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