CALGARY, May 5, 2015 /CNW/ – Keyera Corp. (TSX:KEY) (“Keyera”) announced today a cash dividend for May 2015 of 11.5 cents per common share. The dividend will be payable on June 15, 2015, to shareholders of record on May 25, 2015. The ex-dividend date is May 21, 2015. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). For non-resident shareholders, Keyera’s dividends are subject to Canadian withholding tax.
Effective with the May dividend, Keyera is amending and reactivating the Premium DividendTM component of its Premium DividendTM and Dividend Reinvestment Plan (the “Plan”).
Currently, eligible shareholders enrolled in the regular dividend reinvestment component of the Plan have their dividends reinvested in additional common shares issued from treasury at a 3% discount to the Average Market Price (as defined in the Plan) on the applicable dividend payment date. There are no changes to this regular dividend reinvestment component of the Plan. However, with the reactivation of the amended Premium DividendTM component of the Plan, eligible shareholders will have the option of electing to have these additional common shares delivered to the designated Plan Broker in exchange for a premium cash payment equal to 101% of the regular declared cash dividend that is reinvested on their behalf. Canaccord Genuity Corp. will act as the Plan Broker for the Premium DividendTM component of the Plan.
Participation in the Plan is optional. Shareholders who choose not to enroll in either the regular dividend reinvestment component of the Plan or the Premium DividendTM component of the Plan will continue to receive regular cash dividends. Eligible shareholders wishing to enroll in the Plan (or to change their enrolment to participate in the Premium DividendTM) should contact the institution through which they hold their common shares as soon as possible to confirm enrolment procedures and timelines.
A complete copy of the Plan and a related Questions and Answers document are available on Keyera’s website.
About Keyera Corp.
Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of Natural Gas Liquids (NGLs), the production of iso-octane and crude oil midstream activities.
Keyera’s gas processing plants and associated facilities are strategically located in the west central, foothills and deep basin natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure, including pipelines, terminals and processing and storage facilities, as well as its iso-octane facility, are located in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets propane, butane, condensate and iso-octane to customers in Canada and the United States.
This document contains forward-looking information based on management’s current expectations and assumptions relating to Keyera’s business and the environment in which it operates. As this forward-looking information depends upon future events, actual outcomes may differ materially depending on factors such as: fulfilling the TSX conditional approval for the amendments to the discount and premium rates for Premium DividendTM component of the Plan; Keyera’s dividend policy; the operation of the Plan (including participation rates and decisions by Keyera to pro-rate dividends under the Plan); future operating results of Keyera’s business segments and the components of those results; Keyera’s ability to execute its strategic initiatives, including growth projects and acquisitions; commodity supply/demand balances and prices; activities of producers, competitors, customers, business partners and others; overall economic conditions; access to capital and financing alternatives; construction variables; the legislative, regulatory and tax environment; and other known or unknown factors. There can be no assurance that the results or developments anticipated by Keyera will be realized or that they will have the expected consequences for or effects on Keyera.
Readers are cautioned that they should not unduly rely on forward-looking information. For additional information on these and other factors, see Keyera’s public filings on www.sedar.com.
TM denotes trademark of Canaccord Genuity Corp.
SOURCE Keyera Corp.
For further information: Please visit our website at www.keyera.com or contact: John Cobb, Vice President, Investor Relations & Information Technology; or Lavonne Zdunich, Director Investor Relations & Communications; or Nick Kuzyk, Manager, Investor Relations, E-mail: firstname.lastname@example.org, Telephone: (403) 205-7670, Toll Free: (888) 699-4853