Parkland Corporation Announces July 2020 Dividend

CALGARY, Alberta, July 13, 2020 (GLOBE NEWSWIRE) -- Parkland Corporation (“Parkland”) (TSX:PKI) announces that a dividend of $0.1012 per share will be paid on August 14, 2020 to shareholders of record on July 22, 2020. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is July 21, 2020.

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 5% 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 July 21, 2020 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/dividend/.

For investors previously enrolled in the Premium Dividend component of Parkland's Dividend Reinvestment Plan, please note this program ended in April 2016 and without further action you are now likely receiving the regular dividend.

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.