CALGARY,
AB, March 11, 2022 /CNW/ - Parkland
Corporation ("Parkland") (TSX: PKI) announces that a dividend of
$0.1083 per share will be paid on
April 14, 2022 to shareholders of
record on March 22, 2022. The
dividend will be an 'eligible dividend' for Canadian income tax
purposes. The ex-dividend date is March 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 the March 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.
Enrolling
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.
Forward-Looking Statements
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. Through our portfolio of
trusted and locally relevant food, convenience, retail, commercial
and wholesale brands, we serve 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 that
our diverse customers rely on, we are a leader in renewable energy
and are building an Electric Vehicle ("EV") charging network to
serve growing demand for convenient charging from EV drivers in
select markets and decarbonizing through renewable fuels
manufacturing, compliance and carbon offsets marketing and
trading.
Parkland's proven strategy is centered around growing
organically, realizing a supply advantage, acquiring prudently, and
integrating successfully. We are positioned to lead through the
energy transition and are focused on developing our existing
business in resilient markets, further diversifying our retail
business into food, convenience, and renewable energy solutions
(including EV charging), and helping our commercial customers
decarbonize their operations. Our strategy is enabled and
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