RED DEER, AB, Dec. 12, 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 January 15, 2013 to shareholders of record on December 21, 2012. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is December 19, 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 December 19, 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 December 20, 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.