Keyera Announces Two-for-One Share Split

CALGARY, Feb. 11, 2015 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today a two-for-one split of Keyera's outstanding common shares. The record date for the share split will be April 1, 2015. Each Keyera shareholder will receive one additional common share of Keyera for each common share held on the share split record date.

The Toronto Stock Exchange has determined that, in connection with the share split, the common shares will be traded in accordance with "due bill" trading procedures. The common shares of Keyera are expected to commence due bill trading on March 30, 2015 until April 2, 2015 inclusive. The common shares are expected to commence trading on a post-split basis on April 6, 2015. A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as a share split. In this instance, the entitlement is to the additional common shares of Keyera issuable as a result of the split. Trades executed during the due bill trading period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the share split.

No action is required to be taken by shareholders. Share certificates will be mailed out to registered shareholders on or about April 2, 2015 and the brokerage accounts of beneficial shareholders will automatically be credited for the additional shares arising from the split shortly following the share split record date. The share split will not have unfavourable tax consequences for shareholders under Canadian and US tax laws.

Keyera's previously declared February dividend of $0.215 per share will be paid on a pre-split basis on March 16, 2015 to shareholders of record on February 24, 2015. Because the record date for the previously declared March dividend precedes the share split record date, the March dividend of $0.23 per share will be paid on a pre-split basis on April 15, 2015 to shareholders of record on March 23, 2015. This March dividend includes the 7% dividend increase announced on February 11, 2015. Thereafter, Keyera plans to maintain its monthly dividend policy, adjusted to take into account the share split.

About Keyera

Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of NGLs, the production of iso-octane and crude oil midstream activities.

Keyera's gas processing plants and associated facilities are strategically located in the west central, foothills and deep basin natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure, including pipelines, terminals and processing and storage facilities, as well as its iso-octane facility, are located in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets propane, butane, condensate and iso-octane to customers in Canada and the United States.

Disclaimer

This document contains forward-looking statements based on Keyera's current expectations and assumptions relating to its business, the environment in which it operates, its future operations, the performance of its assets, future dividends, the tax treatment of the share split, and TSX approval of the share split. As these forward-looking statements depend upon future events, actual outcomes may differ materially depending on factors such as: the application and interpretation of tax laws; Keyera's ability to generate sufficient cash flows to fund dividends to shareholders; receipt of necessary approvals for the share split and the ability of certain third parties complete the necessary mechanics associated with the share split in the manner descripted; the expected due bill trading dates associated with the share split; future operating results of the assets; the ability of Keyera to execute its strategic initiatives, including its capital growth program; risks arising from co-ownership; changes in production decline rates; weather conditions; commodity supply/demand balances and prices; activities of producers, competitors, customers, business partners and others; overall economic conditions; access to capital and financing alternatives; operational risks associated with gas plant operation and oil and gas production; environmental liabilities; the legislative, regulatory and tax environment; and other known or unknown factors. There can be no assurance that the results or developments anticipated by Keyera will be realized or that it will have the expected consequences for or effects on Keyera or its shareholders. 

For additional information on these and other factors, see Keyera's public filings on www.sedar.com. The information in this release is given as of the date hereof and will only be updated as required by applicable Canadian securities laws. 

SOURCE Keyera Corp.

For further information: about Keyera, please visit our website at www.keyera.com or contact: Keyera Corp., John Cobb, Vice-President, Investor Relations, or Lavonne Zdunich, Director, Investor Relations, or Nick Kuzyk, Manager, Investor Relations, Email: ir@keyera.com; Telephone: 403.205.7670 / Toll Free: 888.699.4853

RELATED LINKS
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