RED DEER, AB, Feb. 13, 2012 /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 March 15, 2012 to shareholders of record on February 23, 2012. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is February 21, 2012.
Shareholders who wish to enroll for the first time in the Premium Dividend™ or enhanced Dividend Reinvestment Plan must do so prior to the February 21, 2012 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 February 22, 2012, the business day prior to the record date.
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 in addition to their regular cash dividend. Participants in this option will receive $0.0867 per share on the dividend payment date.
- 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.
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 the Valiant Trust Company website at www.valianttrust.com or by calling 1-866-313-1872.
Additional information can also be found at:
Alternatively, please contact Parkland Investor Relations by using the information below.
About Parkland Fuel Corporation
Parkland Fuel Corporation is Canada's largest independent marketer and distributor of petroleum products, managing a nationwide network of sales channels. We are Canada's local fuel company, delivering gasoline, diesel fuel, lubricants, heating oil and other products to businesses, consumers and wholesale customers by community based operators who care.
For further information:
For investor and media inquiries please contact Tom McMillan, Director of Corporate Communications at [email protected] or 1-800-662-7177 ext 2533.