Business
Gibson Energy Inc. Announces Stock Dividend Program
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/...
About this update from Gibson Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES/\n\n\nCALGARY, May 8, 2013 /CNW/ - Gibson Energy Inc. (\"Gibson\" or the\n \"Company\"), (TSX: GEI), is pleased to announce that its shareholders\n have approved an amendment to the Company's articles to implement a\n Stock Dividend Program (\"SDP\") at the Annual & Special Meeting of\n shareholders of the Company held today.  The SDP delivers increased\n optionality for eligible Gibson shareholders by providing the\n opportunity to receive dividends in the form of common shares of Gibson\n (\"Common Shares\") instead of receiving a cash dividend on the dividend\n payment date.  While it is similar to Gibson's existing Dividend\n Reinvestment Plan (\"DRIP\"), the SDP is expected to have certain\n favorable income tax attributes and is available to both eligible\n Canadian and non-Canadian shareholders.  The current DRIP program will\n also remain in place as another option for eligible Gibson\n shareholders.\n\n\nParticipation in the SDP is optional and will not affect shareholders'\n dividends unless they elect to participate in the SDP.  Eligible\n shareholders may elect to participate in the SDP commencing with the\n quarterly cash dividend payable on July 17, 2013, to shareholders of\n record on June 28, 2013 (the \"July 2013 Dividend\").\n\n\nThe benefits of the SDP are as follows:\n\n\nDividends will be paid to electing shareholders in the form of Common\n Shares at 97% of the volume weighted average trading price of the\n Common Shares on the Toronto Stock Exchange for the five trading days\n preceding the dividend payment date;\n\nAll fees associated with the SDP will be paid by Gibson; and\n\nShareholders can elect to receive stock dividends on all or some of\n their Common Shares.\n\nFurther details regarding the benefits and potential tax consequences of\n the SDP are outlined in Gibson's Management Information Circular dated\n April 4, 2013 which is available on Sedar at www.sedar.com and on Gibson's website at www.gibsons.com.\n\n\nTo participate in the SDP, registered shareholders must deliver a\n properly completed enrollment form to Computershare Trust Company of\n Canada (\"Computershare\") (in its capacity as plan agent under the SDP)\n not later than 4:00 p.m. (Toronto time) on the fi...