Superior Plus Announces November 2015 Cash Dividend, Reestablishment of Dividend Reinvestment Program and 2015 Annual Investor Day
TORONTO, ONTARIO--(Marketwired - Nov. 5, 2015) - Superior Plus Corp. (TSX:SPB)
November 2015 Cash Dividend - $0.06 per share
Superior Plus Corp. ("Superior") today announced its cash dividend for the month of November 2015 of $0.06 per share payable on December 15, 2015. The record date is November 30, 2015 and the ex-dividend date will be November 26, 2015. Superior's annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.
Dividend Reinvestment Program
As announced on October 29th 2015, Superior has determined it will restart its Dividend Reinvestment and Optional Share Purchase Plan ("DRIP"), commencing with the dividend payable to holders of record December 31, 2015 which is expected to be paid on or about January 15, 2016. Proceeds from the DRIP will be used for debt reduction and general corporate purposes. The DRIP will provide Superior's shareholders with the opportunity to reinvest their cash dividends in the future growth of the business at a 4% discount to the market price of Superior's common shares.
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 96% of the Average Market Price. Common shares purchased through the DRIP will be issued directly from Superior's treasury.
Beneficial shareholders who wish to participate in either component of the DRIP must provide enrollment instructions to the broker, investment dealer, financial institution or other nominee through which they hold their common shares and should consult such nominee regarding the process and timelines for enrolling. Registered shareholders may enroll in the DRIP by completing an authorization form and submitting the completed form to Computershare Trust Company at the address set out in the DRIP. Further information on Superior's DRIP, including the authorization form for registered shareholders, which will be available no later than November 13, 2015, can be found in the Investor Relations section of Superior's website at www.superiorplus.com.
Superior Plus 2015 Annual Investor Day
Superior is pleased to announce its upcoming Annual Investor Day on Friday, November 20, 2015 at the King Edward Hotel in Toronto. A detailed update on Superior's current operations, short and long-term growth opportunities and financial position will be presented. The formal presentation will commence at 9:00AM EST, a light breakfast and lunch will be served. Members of the professional investment community are invited to attend. To confirm your participation, please rsvp by e-mailing your contact information to email@example.com. Details of the event can also be found on Superior's website at www.superiorplus.com.
About the Corporation
Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates, providing fixed-price energy services, and supply portfolio management; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.
For further information about Superior, please visit our website at: www.superiorplus.com.
Forward Looking Information
This press release may contain forward-looking statements. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as "anticipate", "believe", "continue", "could", "estimate", "foresee", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes. Forward-looking information in this Press Release includes but is not limited to, assumptions concerning the future payment of dividends. 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 2014 Annual Information Form under the heading "Risk Factors", which is available on the SEDAR website (www.sedar.com). 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Superior Plus Corp.
Executive Vice-President and Chief Financial Officer
(403) 218-2973 (FAX)
Superior Plus Corp.
Vice-President, Investor Relations and Treasurer
(403) 218-2971 or (416) 340-6003
(403) 218-2973 (FAX)
Toll Free: 1-866-490-PLUS (7587)