CALGARY, March 8 /CNW/ - Keyera Corp. ("Keyera") (TSX:KEY) (TSX:KEY.DB) (TSX:KEY.DB.A) announced today a cash dividend for March 2011 of 16.0 cents per common share. The dividend will be payable on April 15, 2011 to shareholders of record on March 22, 2011. The ex-dividend date is March 18, 2011.
The dividend amount of 16.0 cents per unit reflects the 6.7% increase that was announced on February 17, 2011. With this increase, Keyera's annual dividend will be $1.92 per share. This is the eighth dividend increase since Keyera went public in 2003, and represents a 7.5% compound annual growth rate in dividends since that time.
This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). For non-resident unitholders, Keyera's dividends are subject to Canadian withholding tax.
About Keyera
Keyera Corp. operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of natural gas liquids (NGLs) and crude oil midstream activities.
Keyera's gas processing plants and associated facilities are strategically located in the west central and foothills natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure includes pipelines, terminals and processing and storage facilities in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets propane, butane and condensate to customers in Canada and the United States.
Disclaimer
This document contains forward-looking statements based on management's current expectations and assumptions relating to Keyera's business and the environment in which it operates. As these forward-looking statements depend upon future events, actual outcomes may differ materially depending on factors such as: Keyera's dividend policy; the operation of the Premium Dividend™ and Dividend Reinvestment Plan; future operating results of Keyera's business segments and the components of those results; Keyera's ability to execute its strategic initiatives; commodity supply/demand balances and prices; activities of producers, competitors and others; overall economic conditions; the legislative, regulatory and tax environment; and other known or unknown factors. There can be no assurance that the results or developments anticipated by Keyera will be realized or that they will have the expected consequences for or effects on Keyera. Readers should refer to Keyera's Annual Information Form available on SEDAR at www.sedar.com for further information.
