CALGARY, Feb. 17 /CNW/ - Keyera Corp. ("Keyera") (TSX:KEY) (TSX:KEY.DB) (KEY.DB.A) announced today a 6.7% increase in its monthly cash dividend from $0.15 to $0.16 per share, beginning with the March 2011 dividend payable on April 15, 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.
"I am very pleased to announce this latest increase to our monthly dividend," said Jim Bertram, President and CEO. "Over the past several years, we have grown our business substantially in our Gathering and Processing and Liquids Business Units. This dividend increase is a result of our strong financial performance, low payout ratio and numerous business initiatives. It is also consistent with our philosophy of increasing our dividend when possible, while balancing future capital needs and maintaining a prudent capital structure."
DISCLAIMER
This document contains forward-looking statements based on management's current expectations and assumptions relating to Keyera's business, the environment in which it operates, anticipated timing and closing of the acquisitions and the future operations and performance of the assets. As these forward-looking statements depend upon future events, actual outcomes may differ materially depending on factors such as: future operating results of Keyera assets; 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, customers, business partners and others; overall economic conditions; access to capital and financing alternatives; operational risks in developing and producing natural gas; and potential delays or changes in plans with respect to development projects or capital expenditures or the results therefrom; 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.
For additional information on these and other factors, see Keyera's public filings on www.sedar.com. Unless otherwise required by applicable laws, Keyera does not intend to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
For additional information on these and other factors, see Keyera's public filings on www.sedar.com. Unless otherwise required by applicable laws, Keyera does not intend to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
