TORONTO, ONTARIO--(Marketwired - Aug. 19, 2016) - Park Lawn Corporation (TSX VENTURE:PLC) (the "Company" or "Park Lawn") announced today that the monthly dividend of $0.038 per share will be payable on September 15th, 2016 to shareholders of record at August 31st, 2016.
The Company offers a Dividend Reinvestment Plan ("DRIP") which allows eligible shareholders of Park Lawn to reinvest their cash dividends into additional common shares of Park Lawn, 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 the Company's common shares over the five business days immediately preceding such dividend payment date less a discount, if any, of up to 5%, at the Company's election. The Company has set the current discount for purchases under the DRIP at 3%. The Company 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 Equity Transfer Services Inc. (the "Administrator"). A completed enrollment form must be received by the Administrator no later than 3:00 pm EST on August 24th, 2016 to reinvest the August 2016 dividend.
The full text of the DRIP and an enrollment form are available on the Company'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.
In connection with the Company's July 2016 dividend (paid on August 15th, 2016), 931 common shares were issued from treasury. To the Company's knowledge, approximately 6.77% of such common shares were issued to insiders of the Company.
About Park Lawn
Park Lawn Corporation 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 and 22 funeral homes, chapels and planning offices in Quebec, Ontario, Manitoba and Saskatchewan. PLC's Harmonia business currently operates under license in the province of Quebec.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.