Superior Plus Announces July 2016 Cash Dividend
TORONTO, ONTARIO--(Marketwired - July 7, 2016) - Superior Plus Corp. (TSX:SPB)
July 2016 Cash Dividend - $0.06 per share
Superior Plus Corp. ("Superior") today announced its cash dividend for the month of July 2016 of $0.06 per share payable on August 15, 2016. The record date is July 31, 2016 and the ex-dividend date will be July 27, 2016. 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
Superior has a Dividend Reinvestment Plan and Optional Share Purchase Program ("DRIP") available to its Shareholders. 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. Further information on the DRIP is posted on Superior's website under the Investor Relations section. Shareholders whose shares are registered in the name of an investment banker, stockbroker, bank, trust company or other nominee should contact such nominee if they wish to enrol in the plan.
About the Corporation
Superior consists of three primary operating businesses: Energy Distribution includes the distribution of propane and distillates, 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 news release contains certain forward-looking information and statements that are based on Superior's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as "to be", "expects", "annualized", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior's common shares, the dividend payment and the tax treatment thereof. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior's operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior's future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior's public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior's management's discussion and analysis and annual information form for the year ended December 31, 2015, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Superior Plus Corp.
Vice President and Chief Financial Officer
(416) 340-6015 or Toll Free: 1-866-490-PLUS (7587)
(416) 340-6030 (FAX)
Superior Plus Corp.
Vice President, Investor Relations and Treasurer
(416) 340-6003 or Toll Free: 1-866-490-PLUS (7587)
(416) 340-6030 (FAX)