Sienna Announces May Dividend
MARKHAM, ON --(Marketwired - May 13, 2016) - Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) today announced a dividend of $0.075 per common share of the Company (each, a "Common Share") for the month of May 2016, representing $0.90 per Common Share on an annualized basis.
The dividend will be payable on June 15, 2016 to shareholders of record as at May 31, 2016. Additionally, all holders of the Company's Subscription Receipts will receive a cash payment per Subscription Receipt equal to, and paid on the same date as, the dividend paid per Common Share.
The Company's dividends are designated as eligible dividends for Canadian tax purposes in accordance with subsection 89(14) of the Income Tax Act (Canada), and any applicable corresponding provincial and territorial legislation.
Sienna has a Dividend Reinvestment Plan (the "DRIP") which allows eligible shareholders of the Company to direct that their cash dividends be reinvested in additional Common Shares. Common Shares issued pursuant to the DRIP are issued from treasury at a 3% discount from the market price. Participation in the DRIP is optional and shareholders who do not wish to participate in the plan will continue to receive cash dividends. A complete copy of the DRIP is available under the Investors section of the Company's website.
ABOUT SIENNA SENIOR LIVING
Sienna Senior Living (TSX: SIA) is one of Canada's largest owners of seniors housing and the largest licensed long-term care provider in Ontario. The Company's 7,500 employees are dedicated to helping you live fully, every day in each of its lines of business: retirement living, long-term care, and third-party management services. The Company owns and operates 35 long-term care homes and 11 retirement residences, representing a combined 6,939 beds/suites across Ontario and British Columbia. For more information, please visit www.siennaliving.ca.
FOR FURTHER INFORMATION PLEASE CONTACT:
Executive Vice President & Chief Financial Officer