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Inter Pipeline announces changes to Dividend Reinvestment Plan

Published by , Editor - Hydrocarbon Engineering
World Pipelines,


Inter Pipeline Ltd has announced the declaration of a cash dividend of US$ 0.1075 per share for September 2014. This dividend will be paid on or about 15 October 2014 to shareholders of record on 22 September 2014. This dividend is designated as an "eligible dividend" for Canadian tax purposes.

Inter Pipeline also announced changes to its Premium Dividend™ and Dividend Reinvestment Plan DRIP. The premium dividend component of the DRIP is being suspended effective 16 September 2014. Concurrently, the Dividend Reinvestment Discount, as defined in the DRIP, will be reduced from 5% to 2%. For shareholders who have elected participation in the DRIP, reinvestment of their dividends will occur at the new discounted rate, beginning with the dividend declared on 10 September.

"We are nearing completion of the largest oil sands transportation expansion in our history," commented Brent Heagy, Inter Pipeline's Chief Financial Officer. "Our dividend reinvestment programmes helped us achieve our goal of successfully funding this capital expenditure programme. We are now in a very strong financial position and have reduced need for new common equity at this time."

Since inception, Inter Pipeline has distributed approximately US$ 2.6 billion in cash payments to investors. Inter Pipeline's objective is to provide investors with sustainable monthly cash dividends, with dividend growth upside tied to the development of Inter Pipeline's large portfolio of organic growth projects.


Adapted from press release by Rosalie Starling

Read the article online at: https://www.worldpipelines.com/business-news/11092014/inter-pipeline-announces-changes-to-dividend-reinvestment-plan-461/

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