Canadian Utilities Limited Announces Two-For-One Share Split
09 Mai 2013 - 3:08PM
Marketwired
Canadian Utilities Limited announced today that its Board of
Directors has approved a two-for-one share split of the outstanding
Class A non-voting shares and Class B common shares. The
two-for-one share split will take the form of a share dividend
whereby share owners will receive one Class A share for each Class
A share held and one Class B share for each Class B share held.
The record date will be June 13, 2013 and the payment date will
be June 14, 2013. Ex-distribution trading in the shares on a
split-adjusted basis will commence on June 17, 2013.
The Toronto Stock Exchange has determined to implement due bill
trading in connection with the share split. A due bill is an
entitlement attached to listed securities undergoing a material
corporate action, such as a share split. In this instance, the
entitlement is to the share dividend. The Class A shares and Class
B shares will trade on a due bill basis from June 11, 2013 to June
14, 2013 inclusive. Any trades that are executed during this period
will be flagged to ensure purchasers receive the entitlement to the
share dividend. The due bill redemption date will be June 19,
2013.
Share owners do not need to take any action. Share certificates
representing the additional Class A shares and Class B shares will
be mailed to registered share owners after June 14, 2013. Existing
share certificates should be retained by the share owners and
should not be sent to Canadian Utilities Limited or its transfer
agent, CIBC Mellon Trust Company. Share owners with Class A shares
and Class B shares held through a brokerage account will have their
accounts automatically updated to reflect the share split.
No income tax will be payable by Canadian residents in respect
of the share splits, and the share splits will not dilute share
owners' equity. All share and per share data for future periods
will reflect the share splits.
Canadian Utilities Limited is undertaking the share splits to
make the Class A shares and Class B shares more readily accessible
to individual share owners, increase and broaden Canadian Utilities
Limited's share owner base, and improve the liquidity of the market
for the shares.
Further information regarding the share split can be found in
the Investors Section of the Canadian Utilities Limited website at
http://www.canadianutilities.com/Investors/Stock-Information/Dividends-and-Stock-Split
Canadian Utilities Limited, an ATCO company, with more than
7,100 employees and assets of approximately $14 billion, delivers
service excellence and innovative business solutions worldwide with
leading companies engaged in utilities (pipelines, natural gas and
electricity transmission and distribution), energy (power
generation, natural gas gathering, processing, storage and liquids
extraction) and technologies (business systems solutions). More
information can be found at www.canadianutilities.com.
Forward-Looking Information:
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"anticipate", "plan", "expect", "may", "will", "intend", "should",
and similar expressions. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements. The Corporation believes that the
expectations reflected in the forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon.
The Corporation's actual results could differ materially from
those anticipated in these forward-looking statements as a result
of regulatory decisions, competitive factors in the industries in
which the Corporation operates, prevailing economic conditions, and
other factors, many of which are beyond the control of the
Corporation.
The forward-looking statements contained in this news release
represent the Corporation's expectations as of the date hereof, and
are subject to change after such date. The Corporation disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities
regulations.
Contacts: Canadian Utilities Limited B.R. (Brian) Bale Senior
Vice President & Chief Financial Officer (403) 292-7502
Canadian Utilities (TSX:CU.PR.D)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Canadian Utilities (TSX:CU.PR.D)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024