Superior Plus Corp.

Superior Plus Corp.

July 08, 2010 16:35 ET

Superior Plus Announces July 2010 Cash Dividend and Upcoming Events

CALGARY, ALBERTA--(Marketwire - July 8, 2010) -

July 2010 Cash Dividend - $0.135 per share

Superior Plus Corp. (TSX:SPB) ("Superior") today announced its cash dividend for the month of July, 2010 of $0.135 per share payable on August 13, 2010. The record date is July 31, 2010 and the ex-dividend date will be July 28, 2010. Superior's annualized cash dividend rate is currently $1.62 per share. This dividend is an eligible dividend for Canadian income tax purposes.

2010 Second Quarter Results and Conference Call

Superior expects to release its detailed 2010 second quarter results on Thursday, August 5, 2010. A conference call and webcast for investors, analysts, brokers and media representatives to discuss the 2010 Second Quarter Results is scheduled for 8:30 a.m. MST on Friday, August 6, 2010. To participate in the call, dial: 1-866-226-1792. An archived recording of the call will be available for replay until midnight, Monday, September 6, 2010. To access the recording, dial: 1-800-408-3053 and enter pass code 6257870. Internet users can listen to the call live, or as an archived call, on Superior's website at:

Dividend Reinvestment Program

Superior has a Dividend Reinvestment Plan and Optional Share Purchase Program ("DRIP") available to its Shareholders. Under the terms of the DRIP, eligible shareholders of Superior may elect to automatically reinvest their regular monthly dividends in additional common shares of Superior, without incurring any commissions, service charges or brokerage fees. Shareholders who elect to reinvest cash dividends under the DRIP will receive common shares at a price (the Average Market Price) equal to the average closing price of the common shares on the Toronto Stock Exchange for the five day trading period ending on the business day immediately prior to the dividend payment date. The price of the common shares purchased with reinvested dividends will be 95% of the Average Market Price. Further information on the DRIP is posted on Superior's website under the Investor Relations section. Shareholders whose shares are registered in the name of an investment banker, stockbroker, bank, trust company or other nominee should contact such nominee if they wish to enrol in the plan.

About the Corporation

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

Superior's shares and convertible debentures trade on the TSX as follows:

Trading Symbol Security Issued and Outstanding
SPB Common Shares 106.2 million
SPB.db.b 5.75% Debentures, Series 1 $174.9 million principal amount
SPB.db.c 5.85% Debentures, Series 1 $ 75.0 million principal amount
SPB.db.d 7.5% Debentures $ 69.0 million principal amount
SPB.db.e 5.75% Debentures $ 172.5 million principal amount

Forward Looking Information

Certain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. Forward-looking information in this Press Release includes but is not limited to, assumptions concerning the future payment of dividends and Superior's dividend reinvestment program. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Superior's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks and uncertainties include but are not limited to the inability of Superior to meet the liquidity tests set forth in the Canada Business Corporations Act with respect to the payment of dividends and future changes to applicable tax laws and the other risks identified in the Corporation's 2009 Annual Information Form under the heading "Risk Factors", which is available on the SEDAR website ( Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

Contact Information

  • Wayne Bingham
    Executive Vice-President and Chief Financial Officer
    (403) 218-2951 or Toll Free: 1-866-490-PLUS (7587)
    (403) 218-2973 (FAX)
    Jay Bachman
    Vice-President, Investor Relations and Planning
    (403) 218-2957 or Toll Free: 1-866-490-PLUS (7587)
    (403) 218-2973 (FAX)