CALGARY, March 25, 2014 /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 April 21, 2014 to all shareholders of record at the close of business on April 4, 2014. The ex-dividend date for this payment is April 2, 2014.
The CDN$0.09 per share dividend is equivalent to approximately US$0.08 per share if converted using the current Canadian/US dollar exchange rate of 0.8915. 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.
Dividends paid by Enerplus are considered an "eligible dividend" for Canadian tax purposes. For U.S. income tax purposes, Enerplus' dividends are considered "qualified dividends".
Effective with the
April 2014 dividend payment described above, Enerplus has elected to eliminate the 5% discount applied to determine the number of shares issued pursuant to the Stock Dividend Program ("SDP"). Until otherwise announced by Enerplus, the number of new shares issued through the SDP will be based upon the weighted average trading price of Enerplus' shares on the Toronto Stock Exchange for the five trading day period immediately prior to the applicable dividend payment date.
Ian C. Dundas President & Chief Executive Officer Enerplus Corporation