Premium Dividend™ and Dividend Reinvestment Plan
On April 22, 2020 Keyera announced the suspension of both the regular and premium components of the DRIP. Shareholders who had been participating in either component of the DRIP would have received the full cash dividend declared beginning with the dividend paid in May 2020.
Previously, eligible shareholders had two options under this Plan:
1. Regular Dividend Reinvestment Option:
What it offered: The regular dividend reinvestment component of the Plan offered eligible shareholders an efficient, convenient and cost-effective way to increase their investment in Keyera.
How it worked: If you were an eligible shareholder and you enrolled your shares in the regular dividend reinvestment component of the Plan, the regular cash dividends that were payable on your shares would have been automatically reinvested in additional Keyera shares at a 2% discount to the Average Market Price (as defined in the Plan) and the additional shares would have been credited to your account under the Plan.
2. Premium DividendTM Option:
What it offered: The Premium DividendTM component of the Plan offered eligible shareholders the ability to, in effect, increase the cash you would otherwise have received from regular dividends by 1%.
How it worked: If you were an eligible shareholder and you enrolled your shares in the Premium DividendTM component of the Plan, the regular cash dividend would have been reinvested in additional commonshares at the 2% discount to the Average Market Price (as defined in the Plan) and these shares would have been automatically delivered to the designated Plan Broker in exchange for a cash payment to you equal to 101% of the regular declared cash dividend.
Participation in either component of the Plan was optional. If you chose not to participate in the Plan, you would have continued receiving your regular cash dividends.
For information on Keyera’s suspended Premium Dividend&t
rade; and Dividend Reinvestment Plan, click on the links below:
• Premium DividendTM and Dividend Reinvestment Plan
• Questions and Answers about the Plan