This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Marret Resource Corp. Announces Approval Of Dividend Reinvestment Plan And Switch To Monthly Dividend Payout

Stocks in this article: MAR


TORONTO, Dec. 13, 2012 /CNW/ - December 13, 2012 - Marret Resource Corp. (the " Company" or " Marret") announced today that its Board of Directors has approved a Dividend Reinvestment Plan (the " Plan") for the Company's shareholders other than shareholders who are U.S. Persons (" Eligible Shareholders"). The Plan will commence on December 31, 2012. The Toronto Stock Exchange (the "TSX") has approved the Plan.

The Company also announced that it intends to pay dividends on its common shares (the "Shares") on a monthly basis beginning in 2013. The first monthly dividend payment in 2013 will be on or about January 31, 2013. The exact timing of monthly dividend payments will be subject to board approval and disclosed in future press releases.

Details of the Plan

The Plan allows Eligible Shareholders to direct cash dividends paid on their Shares and be reinvested in additional Shares which will be, at Marret's discretion, either newly issued Shares purchased from treasury (" Treasury Purchase") or Shares purchased through the facilities of the TSX or alternative Canadian markets (" Market Purchase").

In each press release announcing the declaration of a cash dividend, Marret will announce whether the Shares under the Plan with respect to such cash dividend will be purchased by way of Treasury Purchase or Market Purchase and, if by Treasury Purchase, any applicable discount from the purchase price. In the case of Treasury Purchases, the price will be the average of the daily volume weighted average price of the Shares traded on the TSX for the ten  trading days immediately preceding the applicable dividend payment date, less a discount, if any, of up to 3% at the Company's election. In the case of Market Purchases, the price will be the average market price, excluding any brokerage commissions, of all Shares so purchased for participants by Computershare Trust Company of Canada ("Computershare") (in its capacity as plan agent under the Plan) through the Canadian open markets, which include the facilities of the TSX and/or alternative Canadian markets. No assurances can be made that there will be a sufficient number of additional Shares available to satisfy the requirements of the Plan.

To participate in the Plan, registered Eligible Shareholders must deliver a properly completed initial enrolment form to Computershare through Computershare's self-service web portal at or by downloading the Enrollment Participation - Declaration Form and duly completing and delivering it, as directed under the Plan, to Computershare by not later than 4:00 p.m. ( Toronto time) on the fifth business day prior to the next applicable dividend record date for it to be effective on such dividend payment date. Any enrollment form received after such time will be applied to the next applicable dividend record date. Once a participant has enrolled in the Plan, participation continues automatically unless terminated or suspended in accordance with the terms of the Plan.

Beneficial Eligible Shareholders (owners of Shares that are held through a nominee) who wish to participate in the Plan should contact the broker, investment dealer, financial institution or other nominee who holds their Shares. The date of enrollment for non-registered shareholders of Shares who have instructed a nominee to enroll their Shares in the Plan will be determined by the administrative practices of the intermediary.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs