CALGARY, AB, Sept. 13, 2022 /PRNewswire/ - Parkland Corporation ("Parkland") (TSX: PKI) announces that a dividend of $0.3250 per share will be paid on October 14, 2022, to shareholders of record on September 22, 2022. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is September 21, 2022.
Enhanced Dividend Reinvestment Plan
Parkland's enhanced Dividend Reinvestment Plan ("Enhanced DRIP") allows shareholders to reinvest their cash dividends to purchase additional Parkland shares from treasury at a 2% per share discount to the average of the daily volume weighted average trading prices during the Pricing Period. For further details on the Enhanced DRIP and the Pricing Period, please visit www.parkland.ca/en/investors/dividends.
Shareholders who wish to enroll in the Enhanced DRIP must do so prior to September 21, 2022, (ex-dividend date) to reinvest this month's dividend in Parkland shares at a discount.
Use of Funds
The Enhanced DRIP allows Parkland to retain amounts that would otherwise be paid to shareholders as dividends in cash, thereby incrementally raising equity capital which may be used by Parkland to, among other things, fund its capital program, fund acquisitions, build new locations and upgrade existing locations: all of which help contribute to Parkland's growth and ability to execute on its strategy.
Shareholders who own their shares through a brokerage and who wish to participate in the Enhanced DRIP should ensure they are enrolled by checking their online brokerage portal or by calling their investment advisor.
Shareholders who hold certificates in their own name (registered shareholders) who wish to enroll can find out more from Computershare by calling 1-800-564-6253.
Copies of the Plan and the enrollment form are also available on Parkland's website at http://www.parkland.ca/en/investors/dividends/.
Brokerage entitlement and corporate actions departments are encouraged to ensure that they have properly elected with Clearing and Depository Services Inc. ("CDS") those shares that should participate in the enhanced Dividend Reinvestment Plan.
Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward looking statements"). When used in this news release, the words "expect'', ''will'', ''could'', ''would'', "well positioned," ''pursue'' and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the uses by Parkland of the amount of cash dividends that are reinvested by shareholders in the Enhanced DRIP.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations 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 as a result of numerous risks and uncertainties including, but not limited to: failure to achieve the anticipated benefits of acquisitions, general economic, market and business conditions, industry capacity, competitive action by other companies, refining and marketing margins, the ability of suppliers to meet commitments, actions by governmental authorities and other regulators including increases in taxes, changes and developments in environmental and other regulations, and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" in Parkland's current Annual Information Form, and under the headings "Forward-Looking Information" and "Risk Factors" in Parkland's Management's Discussion and Analysis for the most recently completed financial period, each as filed on SEDAR and available on Parkland's website at www.parkland.ca.
About Parkland Corporation
Parkland's purpose is to Power Journeys and Energize Communities. We serve essential needs in our communities, providing our customers with the essential fuels they depend on to get around, quality foods and convenience items while helping them achieve their goals of lowering their environmental impact. Through our portfolio of trusted and locally relevant brands, we serve well over one million customers per day across Canada, the United States, the Caribbean region and Central and South America.
In addition to leveraging our supply and storage capabilities to provide the essential fuels our diverse customers depend on; we are leading our customers through the energy transition. From electric vehicle charging, renewable fuels, solar energy and compliance and carbon offset trading, we are leaders in helping our customers lower their environmental impact.
Parkland's proven strategy is centred around organic growth, our supply advantage, acquiring prudently, and integrating successfully. We are focused on developing our existing business in resilient markets, growing, and diversifying our retail business into food, convenience, and renewable energy solutions and helping our commercial customers decarbonize their operations. Our strategy is underpinned by our people, as well as our values of safety, integrity, community, and respect, which are deeply embedded across our organization.
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SOURCE Parkland Corporation