CALGARY, June 28, 2012 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF) (NYSE: ERF) announces that a cash dividend in the amount of CDN$0.09 per share will be payable on July 20, 2012 to all shareholders of record at the close of business on July 10, 2012. The ex-dividend date for this payment is July 6, 2012.
The CDN$0.09 per share dividend is equivalent to approximately US$0.087 per share if converted using a Canadian/US dollar exchange rate of 0.9749. The U.S. dollar equivalent dividend will be based upon the actual Canadian/US exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may be applicable.
The dividend paid by Enerplus is considered an "eligible dividend" for Canadian tax purposes. For U.S. income tax purposes, Enerplus' dividends are considered "qualified dividends".
Shareholders are reminded that a new Stock Dividend Program ("SDP") is available to all shareholders. The benefits of the SDP include:
- Shareholders can elect to receive dividends paid in Enerplus shares at a 5% discount to an average market price;
- The SDP has certain attributes that make it more attractive than a traditional DRIP to most shareholders who hold their Enerplus shares in taxable accounts;
- No commissions or fees; and
- Optional participation in the SDP, allowing our shareholders to continue to receive cash dividends unless they elect to receive stock dividends.