CALGARY,
Sept. 19, 2014 /CNW/ - Enerplus
Corporation ("Enerplus") (TSX: ERF) (NYSE: ERF) is pleased to
announce that a cash dividend in the amount of CDN$0.09 will be payable on October 15, 2014 to all shareholders of record at
the close of business on September
30th, 2014. The ex-dividend date for this
payment is September 26th,
2014.
Effective with the October
2014 dividend, all dividends will now be paid on or about
the 15th day of the month, approximately five days
earlier than previously paid. All record dates and ex-dividend
dates will also be adjusted accordingly with future record dates
being on or about the last business day of the previous calendar
month. We continue to expect that all 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".
The Board of Directors has elected to suspend the
stock dividend program ("SDP") effective immediately. Until
further notice, all dividends payable by Enerplus will be paid in
cash.
"The sustainability of our business has improved
dramatically over the past two years", says Ian Dundas, President & Chief Executive
Officer of Enerplus. "Suspending the SDP will eliminate the
dilution associated with the issuance of shares through the SDP and
is supported by our financial strength. It is also consistent
with our strategy of focusing on per share returns."
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, the payment
and timing of payment of future dividends, the tax treatment of
future dividend payments, 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, the risk that
Enerplus may not pay dividends in the future or the amount of such
dividends may be decreased, different tax treatment of such
dividends, and those other risks and uncertainties 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