CALGARY, March 25, 2014 /CNW/ - Enerplus Corporation
("Enerplus") (TSX: ERF) (NYSE: ERF) announces that a cash dividend
in the amount of CDN$0.09 per share
will be payable on April 21, 2014 to
all shareholders of record at the close of business on April 4, 2014. The ex-dividend date for this
payment is April 2, 2014.
The CDN$0.09 per
share dividend is equivalent to approximately US$0.08 per share if converted using the current
Canadian/US dollar exchange rate of 0.8915. The U.S. dollar
equivalent dividend will be based upon the actual Canadian/US
exchange rate applied on the payment date and will be net of any
Canadian withholding taxes that may be applicable.
Dividends paid by Enerplus are considered an
"eligible dividend" for Canadian tax purposes. For U.S. income tax
purposes, Enerplus' dividends are considered "qualified
dividends".
Effective with the April
2014 dividend payment described above, Enerplus has elected
to eliminate the 5% discount applied to determine the number of
shares issued pursuant to the Stock Dividend Program ("SDP"). Until
otherwise announced by Enerplus, the number of new shares issued
through the SDP will be based upon the weighted average trading
price of Enerplus' shares on the Toronto Stock Exchange for the
five trading day period immediately prior to the applicable
dividend payment date.
Ian C. Dundas
President & Chief Executive Officer
Enerplus Corporation
Except for the historical and present factual
information contained herein, the matters set forth in this news
release, including words such as "expects", "projects", "plans" and
similar expressions, are forward-looking information that
represents management of Enerplus' internal projections,
expectations or beliefs concerning, among other things, future
operating results and various components thereof or the economic
performance of Enerplus. The projections, estimates and beliefs
contained in such forward-looking statements necessarily involve
known and unknown risks and uncertainties, which may cause
Enerplus' actual performance and financial results in future
periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, among other
things, those described in Enerplus' filings with the Canadian and
U.S. securities authorities. Accordingly, holders of Enerplus
shares and potential investors are cautioned that events or
circumstances could cause results to differ materially from those
predicted.
SOURCE Enerplus Corporation