CALGARY, Alberta, January 13, 2021 (GLOBE NEWSWIRE) – Parkland Corporation (Parkland) (TSX:PKI) announces that a dividend of $ 0.1012 per share will be paid on February 15, 2021 to shareholders of record on January 22, 2021. The dividend will be an “eligible dividend” for Canadian income tax purposes. The ex-dividend date is January 21, 2021.
Enhanced dividend reinvestment plan
Parkland’s Enhanced DRIP allows shareholders to reinvest their dividends in cash to purchase additional Parkland shares from the treasury at a discount of 5% per share from the average price. volume weighted dailies during the pricing period. For more details on the enhanced DRIP and pricing period, please visit www.parkland.ca/en/investors/dividends.
Shareholders who wish to join the enhanced RRD must do so before the ex-dividend date of January 21, 2021 to reinvest that month’s dividend in Parkland shares at a discount.
Use of funds
The enhanced PRD allows Parkland to retain amounts that would otherwise be paid to shareholders as cash dividends, thereby gradually increasing equity that can be used by Parkland to, among other things, fund its capital program, fund acquisitions , building new locations and upgrading existing locations: all contribute to Parklands growth and its ability to execute its strategy.
Shareholders who own their shares through a brokerage firm and wish to participate in the Enhanced DRIP should ensure that they are registered by visiting their online brokerage portal or by calling their investment advisor.
Shareholders who hold certificates in their name (registered shareholders) who wish to register can find out more from Computershare by calling 1-800-564-6253.
Copies of the plan and registration form are also available on the Parkland website at http://www.parkland.ca/en/investors/dividend/.
For investors previously enrolled in the Premium Dividend component of Parkland’s Dividend Reinvestment Plan, please note that this program ended in April 2016 and without further action you will likely receive the regular dividend.
The Brokerage Services and Securities Services departments are encouraged to ensure that they have correctly selected from Clearing and Depository Services Inc. (CDS) which stocks should participate in the enhanced dividend reinvestment regime.
Certain statements contained in this press release constitute forward-looking information and statements (collectively, forward-looking statements). When used in this press release, the words expect, will, could, could, would, properly positioned, pursue and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements regarding, among other things, Parkland’s use of the amount of cash dividends that are reinvested by shareholders in the enhanced DRIP.
These forward-looking statements involve risks, uncertainties and other known and unknown factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. No assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this press release should not be improperly relied upon. These forward-looking statements speak only as of the date of this press release. Parkland assumes no obligation to publicly update or revise any forward-looking statements, except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements due to numerous risks and uncertainties, including, but not limited to: failure to realize the expected benefits from acquisitions, general economic, market conditions and trade, industry capacity, competition from other companies, refining and marketing margins, the ability of suppliers to meet their commitments, actions taken by government authorities and other regulatory bodies, including including tax increases, changes and developments in environmental and other regulations, and other factors, many of which are beyond Parkland’s control. See also the risks and uncertainties described under the sections Caution regarding forward-looking information and risk factors in the current Parklands annual information form, and under the sections “Forward-looking information” and “Risk factors” in the MD&A. Parkland for the last completed fiscal year, each as filed on SEDAR and available on the Parklands website at www.parkland.ca.
About Parkland Corporation
Parkland is an independent supplier and distributor of fuels and petroleum products and a leading operator of convenience stores. Parkland serves customers across Canada, the United States, the Caribbean region and the Americas through three channels: retail, commercial and wholesale. Parkland is optimizing its fuel supply across all three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides reliable, locally relevant fuel brands and convenience store offerings to the communities it serves.
Parkland creates shareholder value by focusing on its proven strategy of organic growth, realizing a sourcing advantage, and prudently acquiring and integrating successfully. At the heart of our strategy are our people, along with our values of safety, integrity, community and respect, which are embraced throughout our organization.
FOR FURTHER INFORMATION Investor Inquiries Brad Monaco Director, Capital Markets 587-997-1447 Media Inquiries Leroy McKinnon Senior Specialist, Corporate Communications 403-567-2573
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