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Superior Plus Announces May 2010 Cash Dividend, Reestablishment of Dividend Reinvestment Program and Upcoming Events
Superior Plus Announces May 2010 Cash Dividend, Reestablishment of Dividend Reinvestment Program ...
About this update from Superior Plus Corp
[{"type":"text","content":"\n\n\n\n May 5, 2010 (Canada NewsWire Group) -- TSX: SPB\n\n\n\n\n >\n\n\nSuperior Plus Corp. ("Superior") today announced its cash dividend for the month of May, 2010 of $0.135 per share payable on June 15, 2010. The record date is May 31, 2010 and the ex-dividend date will be May 27, 2010. Superior's annualized cash dividend rate is currently $1.62 per share. This dividend is an eligible dividend for Canadian income tax purposes.\n\n\n >\n\n\nSuperior has determined it will restart its Dividend Reinvestment Program and Optional Share Purchase Program ("DRIP"), commencing with the payment of the May 2010 dividend. Proceeds from the DRIP will be used to reduce existing debt levels and to fund existing and future accretive growth opportunities. The DRIP will provide Superior's shareholders with the opportunity to reinvest their cash dividends in the future growth of the business at a 5% discount to the market price of Superior's common shares.\nUnder 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 95% of the Average Market Price.\nShareholders who participate in the DRIP may also elect to purchase additional common shares by way of cash payment, without incurring any commissions, service charges or brokerage fees. Common shares purchased by way of additional cash payment will be purchased at the Average Market Price, without discount.\nCommon shares may be purchased under the DRIP commencing with the May 2010 cash dividend payable on June 15, 2010 to Shareholders of record on May 31, 2010. Common shares purchased through the DRIP will be issued directly from the Superior's treasury.\nRegistered shareholders may enroll in the DRIP by completing an Authorization Form and submitting the completed form to Computershare Trust Company at the...