RED DEER, ALBERTA--(Marketwired - April 11, 2014) - Parkland Fuel Corporation ("Parkland" or the "Corporation") (TSX:PKI), Canada's largest independent fuel distributor and marketer, today announced that a dividend of $0.0883 per share will be paid on May 15, 2014 to shareholders of record on April 23, 2014. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is April 21, 2014.
Shareholders who wish to enroll for the first time in the Premium Dividend™ or enhanced Dividend Reinvestment Plan must do so prior to the April 21, 2014 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 April 22, 2014, 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 $0.0883 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 $0.0901 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 $0.0883 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 Computershare by calling 1-800-564-6253. Copies of the Plan, a series of questions and answers and the enrollment form are also available on Parkland's website at http://bit.ly/PKIdividend.
About Parkland Fuel Corporation
Parkland Fuel Corporation is an independent marketer of petroleum products in North America, empowered by a continent-wide logistics, supply and trading platform. We provide motorists, businesses, consumers and wholesale customers with a safe and dependable source of gasoline, diesel, propane, lubricants, heating oil and other products through a network of locations across North America that are run by community based operators who care.
To sign up for Parkland's investor information services, please go to http://bit.ly/PKI-Info or visit www.parkland.ca.