TORONTO, Feb. 17, 2017 /CNW/ - Park Lawn Corporation (TSX:PLC) ( "PLC") announced today that the monthly dividend of $0.038 per share will be payable on March 15th, 2017 to shareholders of record at February 28th, 2017.
PLC offers a Dividend Reinvestment Plan ("DRIP") which allows eligible shareholders of PLC to reinvest their cash dividends into additional common shares of PLC, which will be issued from treasury (or purchased on the open market) on the applicable dividend payment date. If common shares are issued from treasury, the price at which such common shares are issued will be the volume weighted trading price of PLC's common shares over the five business days immediately preceding such dividend payment date less a discount, if any, of up to 5%, at PLC's election. PLC has set the current discount for purchases under the DRIP at 3%. PLC may, subject to the terms of the DRIP, alter or eliminate any discount at any time.
An eligible shareholder may enroll in the DRIP by completing an enrollment form and returning it to TSX Trust Company (the "Administrator"). A completed enrollment form must be received by the Administrator no later than 3:00 pm EST on the fifth business day immediately preceding the relevant dividend record date in order to take effect on the dividend payment date to which that dividend record date relates.
The full text of the DRIP and an enrollment form are available on PLC's website at www.parklawncorp.com. Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP. Beneficial shareholders who hold their shares through a nominee and who wish to participate in the DRIP should contact their nominee to enquire about enrollment.
PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate 34 cemeteries in Ontario and Michigan, 17 crematoria and 26 funeral homes, chapels and planning offices in Quebec, Ontario, Manitoba and Saskatchewan.
SOURCE Park Lawn Corporation
For further information: Andrew Clark, Chairman & Chief Executive Officer, (416) 231-1462; Joseph Leeder, Chief Financial Officer, (416) 231-1462