Sienna Announces October Dividend
MARKHAM, ON --(Marketwired - October 14, 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 October 2016, representing $0.90 per Common Share on an annualized basis.
The dividend will be payable on November 15, 2016 to shareholders of record as at October 31, 2016.
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) owns and operates 55 high-quality seniors living residences in key markets in Ontario and British Columbia, comprising 8,179 beds/suites serving the continuum of independent living, assisted living, long-term care and specialized seniors programs and services. The Company is one of Canada's largest owners of seniors housing and the largest licensed long-term care provider in Ontario, with approximately 9,000 employees dedicated to helping residents live fully, every day. For more information, please visit www.siennaliving.ca.
FOR FURTHER INFORMATION PLEASE CONTACT:
Executive Vice President & Chief Financial Officer